Stock Market Today, March 23: Palantir Rises After the Pentagon Designates Maven Program of Record

By Eric Trie – Mar 23, 2026 at 4:57PM ESTExpandNASDAQ: PLTRPalantir TechnologiesToday's Change(6.77%) $10.21Current Price$160.88Key Data PointsMarket Cap$360BDay's Range$153.27 - $161.0852wk Range$66.12 - $207.52Volume2.6MAvg Vol48MGross Margin82.37%Palantir Technologies (PLTR +6.77%) closed at $160.9, up 6.78%. The stock rose after the Pentagon confirmed its Maven AI platform as a program of record and news broke of a UK regulator trial contract, with investors watching for sustained government AI revenue.The company’s trading volume reached 56 million shares, which is nearly 17% above compared with its three-month average of 47.8 million shares. Palantir Technologies went public in 2020 and has grown 1594% since its IPO. How the markets moved todayThe S&P 500 (^GSPC +1.15%) rose 1.15% to 6,581, while the Nasdaq Composite (^IXIC +1.38%) gained 1.38% to finish at 21,946.76. Within the software - infrastructure industry, Microsoft closed at $383.00 (+0.30%) and Oracle finished at $154.34 (+3.11%), reflecting continued investor enthusiasm for AI-driven platforms in the sector.What this means for investorsPalantir Technologies rose after the U.S. Department of Defense designated its Maven AI platform as a program of record, a classification that typically signals long-term funding and integration into defense budgets. That shift indicates Palantir’s software is becoming embedded in government operations rather than tied to shorter-term pilot programs, supporting more durable revenue visibility from these contracts.The company also announced a trial engagement with the U.K.’s Financial Conduct Authority, pointing to potential expansion beyond defense into regulatory and financial crime applications. Investors will be watching whether Palantir can translate these developments into sustained government contract growth and broader adoption across commercial and regulated industries.Read NextMar 23, 2026 •By Rick OrfordWhere Will Palantir Be in 5 Years if the Polymarket Deal Pays Off?Mar 23, 2026 •By Rich SmithWhy Palantir Stock Just PoppedMar 23, 2026 •By Adam SpataccoPalantir's Stock Valuation Still Looks Absurd. Here's Why Investors Keep Buying It Anyway.Mar 23, 2026 •By Manali Pradhan, CFA2 AI Stocks Wall Street Says to Sell Before They Drop 55%Mar 22, 2026 •By Patrick SandersPalantir Technologies Stock Has 1 Problem. Here's Why I'm Buying Anyway.Mar 22, 2026 •By Danny Vena, CPAThe Pentagon Just Dropped a Bombshell for Palantir Stock InvestorsAbout the AuthorEric Trie is a Motley Fool contributing stock analyst covering technology and semiconductors, healthcare, financial services, and consumer sectors. Previously, he worked in investment analysis and financial writing. He holds a B.A. in Philosophy from Rutgers University. Eric lives in New York City and is an avid sports fan.CMFIdeaMachineStocks MentionedPalantir TechnologiesNASDAQ: PLTR$160.89(+6.77%)+$10.21MicrosoftNASDAQ: MSFT$383.04(+0.31%)+$1.17OracleNYSE: ORCL$154.34(+3.11%)+$4.66*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.