Palantir (PLTR) Shares Reach New Heights Amidst AI Spending Optimism

Palantir Technologies' (PLTR) share value reached another all-time high during Tuesday's trading, largely due to positive expectations that the data analytics software company will thrive amidst massive AI investments.  CEO of Palantir, Alex Karp, was among the top executives attending a recent energy and AI summit in Pittsburgh with President Donald Trump, during which companies pledged massive investments in energy infrastructure and data centers.  Analysts from Wedbush expressed last week in a note to a client that Palantir is well-positioned to potentially profit from federal spending in North America and Europe. They also pointed out that the Trump administration’s focus on AI initiatives adds to the appeal of the stock. Since the inaugural days of the year, Palantir's shares have nearly doubled, becoming the leading gainer in the S&P 500 in 2025, fueled by soaring corporate and government AI expenditure, which includes several profitable defense contracts. The stock reached a midday record of nearly $151 on Tuesday morning but closed slightly down at $148.58. In this article, we delve into the Palantir’s chart technicals and highlight price points investors will likely observe. The stock of Palantir had been trading within an ascendant triangle ahead of a modest increase above the pattern's peak trendline in the trading session of Monday. This saw the stock register a record high, suggesting a possible upward trend continuation. The relative strength index supports bullish momentum while staying below overbought levels, implying sufficient scope for the shares to explore higher price levels. The ongoing uptrend in Palantir shares can be predicted using technical analysis, also identifying two worthy support levels to monitor for potential stock value pullbacks. For an approximate visualization of a rising trend in the value of the shares, one can use the bars pattern tool; a technique that scrutinizes past trends on the chart to predict future directional movements. Applying this analysis, we can predict an upside target of around $195, indicating possible continued trending until late August, given that price actions corresponds with earlier movement. Should the bulls fail to secure the top trendline of the ascendant triangle, the shares might draw back towards $125; an area currently positioned just below the 50-day moving average, which will likely provide support near the significant February peak, along with a period of sideways drift noticed on the chart for the majority of May. Lastly, a more profound pullback could lead to a low support retest of approximately $107. Investors may seek to accumulate Palantir shares in this region, which closely aligns with the completion of an early May brief profit-taking dip. Investopedia's comments and analyses are for informational uses only. Further detail can be found in our warranty and liability disclaimer. At the time this article was penned, the author held no accredited securities.