Palantir Technologies (PLTR) stock is pushing higher on May 29, and much of its momentum traces back to a stunning earnings report from Dell Technologies (DELL).
The upward momentum helped PLTR break above its 100-day moving average (MA) on Friday, signaling a shifting trend in favor of the bulls.
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Following an exceptionally strong 2025, Palantir shares have been a disappointing investment this year, currently down nearly 14% versus their high in early January.
Why Dell Earnings Are Bullish for Palantir Stock
When hyperscalers and enterprises race to build out AI infrastructure at the scale DELL’s backlog (a record $51.3 billion) suggests, the next step is often software deployments to make sense of all that compute — and that’s precisely where Palantir comes in.
AI servers sitting idle are just expensive electricity bills; organizations need platforms like Palantir’s to operationalize the data, run decision-making workflow, and extract real business value from the hardware they’re buying.
Dell’s blowout earnings are effectively a demand survey of the enterprise AI buildout — and what it reveals is that the hardware layer is filling up fast.
Historically, software spending follows infrastructure spending with a lag of two to four quarters, meaning the pipeline Palantir is looking at heading into the back half of 2026 just got a significant vote of confidence.
In that sense, Dell’s release isn’t just a hardware story. It’s a leading indicator for companies sitting one layer up in the AI stack. That’s what drove PLTR stock above its 100-day MA today.
Why Else Are PLTR Shares Worth Owning in 2026?
For long-term investors, the fundamental story behind Palantir stock is just as attractive.
At $1.63 billion, the company’s revenue came in up 85% on a year-on-year basis in Q1, the fastest sales growth it has seen in a quarter since going public in 2020.
More importantly, PLTR continues to redefine the “Rule of 40” with a score of an eye-popping 145 in its latest reported quarter.
Management’s raised guidance, now calling for $7.65 billion in full-year revenue (at least), makes up for another strong reason to stick with Palantir Technologies in 2026.
