Palantir Technologies’ Maven Smart System is approaching a $1 billion annual revenue run-rate across multiple Pentagon contract vehicles, according to William Blair, which maintained its Outperform rating. Deputy Secretary of War Steve Feinberg directed a $244 million increase in Palantir’s Pentagon funding through March 2027, while the fiscal 2027 budget proposal included $2.3 billion for the Maven Smart System and Joint Fires Network combined. Palantir’s U.S. government revenue growth accelerated from 5% in the fourth quarter of 2023 to 90% in the second quarter of 2026. The company’s shares rose 3.17% to $183.12, giving it a market capitalization of $420.73 billion. Analysts at UBS, Truist Securities and Phillip Securities raised their price targets after Palantir’s second-quarter 2026 results exceeded FactSet expectations, although William Blair warned that competition from large language models and possible political changes could slow deployment momentum.