Palantir's 93% Revenue Surge and Caterpillar's Record Quarter Signal AI Profits Are Spreading Beyond Tech

On 4 August 2026, Palantir surged 29.5% after CEO Alex Karp reported 93% revenue growth in an "otherworldly" quarter. Caterpillar climbed 5.6% on its first $20bn sales quarter, lifted partly by datacenter turbine orders. Nvidia, Broadcom, and Micron also gained. S&P 500 firms were on track for ~50% EPS growth — the biggest jump since 2021 — as AI-driven earnings spread across software, chips, and industrial equipment.