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AI & Enterprise

Palantir posts record quarterly results, net profit up fourfold from year earlier

Palantir Technologies posted record quarterly revenue and net profit, the Wall Street Journal reported on Sunday. First-quarter revenue rose 85 percent from a year earlier to $1.63 billion, beating market expectations. Net profit rose fourfold to $876 million, also topping estimates. Revenue from U.S. government contracts increased 84 percent to $687 million, while U.S. corporate customer revenue more than doubled to $595 million but came in slightly below forecasts.

AI & Enterprise

OpenAI, Anthropic set up AI joint ventures with private equity firms to battle for enterprise market

OpenAI and Anthropic are setting up joint ventures to target the enterprise market. Anthropic said on May 4 it will form a venture focused on corporate AI services with Blackstone, Hellman & Friedman and Goldman Sachs, alongside other investors. The Wall Street Journal put the venture’s valuation at $1.5 billion. Bloomberg reported OpenAI is raising $4 billion for The Development Company at a $10 billion valuation.

Crypto

U.S. CLARITY Act compromise lifts Circle shares, allows some stablecoin rewards

A compromise by U.S. lawmakers on the crypto market structure bill known as the CLARITY Act sent Circle shares sharply higher, CNBC reported on Monday. The deal would bar crypto firms from paying interest or yields for simply holding stablecoins, a practice left to traditional banks. It would allow rewards linked to user activity such as trading, transfers and staking. Coinbase and other crypto-related stocks also rose, while bitcoin was little changed.