Palantir, Cloudflare Surge: AI Security Stocks Gain

Palantir surged 5% and Cloudflare jumped 3% today, driven by a broad market rally. This increase comes as a U.S.-Iran peace deal sparked a risk-on sentiment among investors. The NASDAQ 100 tracking ETF, QQQ, gained 3%, and the S&P 500 ETF, SPY, rose 1.9% intraday. What's interesting is there's no company-specific news for either Palantir or Cloudflare. Investors appear to be moving back into AI and security software names. Palantir's stock is still down 24% year to date, despite its 85% revenue growth. Cloudflare, however, is up 20% year to date, partly due to its focus on agentic AI. Both companies are key players in AI infrastructure and security. The bottom line is that macro events can significantly influence high-beta growth stocks in the tech sector.