The stock price hit a new all-time high! Palantir (PLTR.US) received a FedRAMP High authorization

Palantir Technologies (PLTR.US) said its two cloud-based services have been granted advanced authorization under the Federal Risk and Authorization Management Program (FedRAMP). The stock closed up nearly 7% on Tuesday, hitting a new record high of $70.96. The authorization is for the Palantir Federal Cloud Service and the Palantir Federal Cloud Service-Supporting Services. The authorization covers all of Palantir's products and plans. The Palantir Federal Cloud Service is a cloud-hosted product developed to deliver Palantir software, while the Palantir Federal Cloud Service-Supporting Services is a cloud-hosted environment that delivers commercial software to federal government customers as a FedRAMP high baseline secure cloud service. The big data analytics software giant, known as the "AI unicorn," has seen its stock rise more than 300% this year as demand is driven by continued growth in artificial intelligence and the company's strong performance. The stock has gained more than 1,000% since its IPO in September 2020.