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Top stories today:
- Palantir Q2 revenue +48% YoY to $1.0B on “astonishing” AI impact
- Bullish, CoinDesk owner, seeks up to $629M in IPO
- Tesla grants Elon $23.7B stock award to ensure focus
- Perplexity accused by Cloudflare of stealth crawling
- ChatGPT adds break reminders amid mental health concerns
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Palantir Q2 revenue +48% YoY to $1.0B on “astonishing” AI impact
+68% in U.S. sales to $733M.
+53% in U.S. government revenue to $426M.
+93% in revenue from commercial contracts in the U.S. to $306M.
Planned to be the “dominant software company of the future,” CEO Alex Karp said.
$4.14B-$4.15B in revenue outlook for the full year, exceeding analysts’ prior expectations of $3.91B.
+5% in Palantir’s shares in pre-market trading after closing at $160.66 on Mon.
+577% in Palantir’s stock price over the past year on growing demand for AI tools.
2. Bullish, CoinDesk owner, seeks up to $629M in IPO
At $28-$31 each, 20.3M Bullish shares to be marketed.
Market value of ~$4.2B based on the outstanding shares listed in the filing.
BlackRock and ARK Investment are interested in buying as much as $200M of shares in aggregate at the IPO price.
Aug. 12: the shares are expected to price.
$348.6M of net loss on digital-asset sales of $80.2M in the quarter ending Mar. 31, vs. $104.8M net income on $80.4M sales a year ago.
JPMorgan Chase, Jefferies Financial, and Citigroup are leading the offering.
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