Palantir Wins Big Endorsement from Nvidia Amid 'Ice Cold' Label

Nvidia has partnered with Palantir to run its 1.3 million-part supply chain, handing over software that will manage every component inside its most advanced AI rack. This decision is significant because just two days earlier, Jim Cramer described Palantir as 'ice cold for the first half of this year'.

Palantir's stock price didn't react much to the news, trading at $167.15 midday Thursday, down 1.41% on the session despite the endorsement from Nvidia.

The partnership fuses Palantir Foundry and AIP with NVIDIA Nemotron open models grounded in Palantir Ontology. The reference architecture, called SAIOS, runs on hardware from Dell Technologies and Cisco for on-premises deployment; Rackspace and Nebius enable co-lo and cloud options.

Nvidia CEO Jensen Huang described the stakes, calling supply chains 'the operating system of the physical economy.' Palantir CEO Alex Karp said the sovereign stack is 'delivering capabilities that exceed the frontier while providing alpha protection qualities unavailable otherwise.'

The announcement doesn't seem to have changed investors' minds about Palantir's valuation. The company carries a P/E of 240 and a market cap near $383.9 billion, on $265 million of quarterly stock-based compensation.