Palantir Just Became Worth Four ServiceNows — That Raises a $333 Billion Question

What happened

From Oct. 28 to Oct. 30, ServiceNow’s market value fell nearly 30% to $109.11 billion, while Palantir’s declined 6.5% to $442.40 billion. Palantir’s value rose to 4.05 times ServiceNow’s, creating a gap of roughly $333 billion, despite ServiceNow expecting nearly twice Palantir’s total sales in subscription revenue.

Confirmed

Global impact / market context

The widening gap shows investors are assigning Palantir a much higher value relative to current sales expectations. If that premium reflects confidence in future growth, Palantir must deliver enough revenue expansion to justify it; weaker growth could instead make its valuation harder to support.

Analyst inference

The article links the sell-off to ServiceNow’s third-quarter results and outlook: revenue grew 20.5%, but its forecast for contracted revenue expected over the next 12 months implied 18.5% growth. That slower forward measure may have weighed on its valuation, while Palantir also fell less sharply.

Analyst inference

What to watch

1. Watch ServiceNow’s upcoming contracted-revenue updates, which indicate sales expected over the next 12 months, to see whether growth stays below its third-quarter pace of 20.5%. Analyst inference
2. Compare Palantir’s future sales growth with its valuation premium over ServiceNow; sustained growth could support the higher relative value, while weaker results could challenge it. Analyst inference
3. Track whether ServiceNow’s raised 2026 subscription revenue outlook of $15.78 billion–$15.79 billion is supported by reported results and continued customer commitments. Confirmed

Evidence

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