Indian IT stocks rally following Palantir CEO's critique of AI firms
The Nifty IT index climbed 4.64% this Thursday, snapping a four-day losing streak. The surge was fueled by a rally in global enterprise software stocks, sparked by comments from Palantir CEO Alex Karp. Karp labeled the token-based pricing models used by AI companies such as OpenAI and Anthropic as a "wealth tax," arguing that it depletes corporate budgets without delivering lasting business value. Following his remarks, Palantir shares jumped 7.7%, while Salesforce rose 4%, Accenture gained 5.4%, and ServiceNow climbed 6.5%.
by shortkt.com✓