Palantir Technologies Inc. (NASDAQ: PLTR) stock is back to its bullish ways. After a slight downturn to start the month, the stock has come roaring back. It's up 17% in September and is within striking distance of eclipsing the all-time high (ATH) the stock made in August.
Certainly, Palantir is benefiting from the Federal Reserve’s interest rate cut, which reignited the artificial intelligence (AI) trade. However, this isn’t just a “hopes and dreams” rally. The company received its first $1 billion contract outside the United States. The company will work with the United Kingdom’s Ministry of Defence (MoD) in a five-year deal unveiled when U.S. President Donald Trump visited the U.K. in September.
