
But rich stories come with high valuations, like clothes with too many zippers—impressive on the outside but suspiciously confounding underneath. Palantir’s P/E ratio is nearing 700, which, if you’re not into math, means analysts are basically betting on this company being a miracle machine, or just that they really, really believe in AI’s future. The forward P/E is still sitting at 270, just to keep the thrill alive. Investors are riding a roller coaster with no brakes, clinging to the hope that Palantir’s AI will reinvent everything from warfare to warehouse management—because who doesn’t want their next conspiracy theory to come with a profit margin?