Palantir Technologies (PLTR) surged 1.15% on Thursday, continuing its strong run as a favorite stock among retail investors and bolstered by key government deals. The stock has made a big comeback, reappearing on JPMorgan’s (JPM) list of top retail buys for the first time since mid-March, with individual investors driving around 16% of its net buying between April 9 and April 15.
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The resurgence in retail activity comes alongside two major government wins—a $30 million contract with ICE and a new partnership to bring Claude AI to U.S. federal agencies. These developments have helped Palantir outperform a broader tech selloff, with the Nasdaq 100 (NDX) down over 4% this month while Palantir has gained nearly 10%.
$30 Million ICE Deal Boosts Government Ties
Driving part of this momentum is Palantir’s newly awarded $30 million deal with U.S. Immigration and Customs Enforcement (ICE). The deal will roll out ImmigrationOS, a tool designed to monitor visa overstays and self-deportation cases in near real time.
This new system supports President Trump’s latest orders that treat illegal immigration and cross-border crime as major threats. It is designed to help ICE move faster and work more efficiently.
Claude AI Enters the Fed Through Palantir
In another step, Palantir is working with Anthropic to make Claude AI available to U.S. government agencies through its FedStart program. The tool will run through Palantir’s secure system and follow strict government security rules. It will be hosted on Google Cloud infrastructure, helping federal users work quickly and safely.
Anthropic noted that this partnership will enable federal workers to use Claude for tasks such as writing, data analysis, and solving tough problems, making their jobs faster and easier. This move boosts Palantir’s role in government tech and adds to its growing AI push.
Is PLTR a Good Stock to Buy?
With Palantir Technologies’ stock already having gained over 332% in the past year, Wall Street prefers to remain on the sidelines. On TipRanks, PLTR stock has a Hold consensus rating based on three Buys, twelve Holds, and three Sell ratings. Also, the average Palantir Technologies price target of $93.69 implies 0.1% downside potential from current levels.
