Surf Air Mobility Inc.

Surf Air Mobility Chairman Shawn Pelsinger announced the company has secured its first multi-million-dollar contract to deploy its SurfOS software alongside Palantir, marking a key milestone in its transformation plan. The contract with Wheels Up is worth up to $12 million over the contract term and represents the first enterprise customer for the AI-enabled operating system. Pelsinger stated the company has significantly reduced debt, improved profitability in its air mobility business, and now has a stable foundation to pursue growth across three interconnected areas: SurfOS software, a tech-enabled charter platform, and air mobility operations. The company aims to roll out additional SurfOS products, establish a path to profitability in each business, significantly grow charter platform revenue, and fly the first paying passenger on an electric aircraft once certified.

Shares of Palantir Technologies rose 2.7% after DA Davidson upgraded the stock to Buy from Neutral and raised the price target to $175. The upgrade followed several positive developments, including an expanded partnership with Nvidia to build custom sovereign AI models for U.S. government agencies. Additionally, the U.S. Army selected Palantir Foundry as the core cloud data layer for its Next Generation Command and Control modernization program, and Palantir took a 7.4% stake in Surf Air Mobility to develop an AI-powered operating system for private aviation. The stock was trading at $129.08, up 2.9% from the previous close.

Surf Air Mobility shares surged 14.3% after the company expanded its partnership with Palantir Technologies to accelerate the SurfOS aviation software suite, launched a Hawaiʻi electric aircraft demonstration with BETA Technologies, and signed Wheels Up as the first Enterprise BrokerOS customer in a multi-year subscription deal worth up to US$12 million. The expanded Palantir collaboration aims to speed up development of SurfOS components including OperatorOS, OwnerOS, and Enterprise solutions, reinforcing Surf Air's pivot toward software as a second revenue stream alongside its regional airline operations. The BETA Hawaiʻi program and a planned MRO facility add a longer-term electrification angle, though the company's fragile balance sheet and ongoing losses remain key risks. Analyst projections see Surf Air reaching US$243.2 million in revenue and US$11.9 million in earnings by 2029, implying 30.8% annual revenue growth and a US$124.3 million earnings swing from a current loss of US$112.4 million.

Palantir Technologies shares surged 9.3% in afternoon trading after the company announced a strategic AI partnership with Nvidia and a financial disclosure revealed President Donald Trump holds a significant stake. The collaboration with Nvidia will focus on deploying AI models for U.S. government agencies and critical infrastructure. Palantir also announced an expanded commercial agreement with Surf Air Mobility and a contract to provide the U.S. Army with its Foundry platform. Investor sentiment was further boosted by President Trump's financial disclosure, which showed he owns at least $1 million in Palantir shares and recently purchased more. The shares closed at $125.62, up 7.7% from the previous close.

Palantir stock has corrected 30% in the last six months, presenting what some see as a buying opportunity given the company's strong business momentum and product moat. The company recently announced a partnership with Surf Air Mobility and a deal with Nvidia for running AI models in sovereign environments, adding to growth visibility. For the first quarter of fiscal 2026, Palantir signed 206 deals of at least $1 million, and its U.S. commercial customer count rose 42% year-on-year to 615 as of March 2026. Fiscal 2025 revenue increased 56% to $4.5 billion, with operating cash flow of $2.1 billion and a total remaining deal value of $11.2 billion. Analysts have a consensus Moderate Buy rating on the stock with a mean price target of $193.63, implying a potential upside of 53% from current levels.

Micron and Intel led a selloff in chip stocks on Monday, even as the broader market advanced on easing U.S.-Iran tensions. Micron fell 6% after a class-action lawsuit in California accused it, Samsung, and SK Hynix of colluding to restrict DRAM supply and raise prices during the AI boom. Intel dropped 5%, Marvell fell 4%, and AMD slipped 3%, while the Philadelphia Semiconductor Index declined 0.4%. In contrast, the Dow gained 0.5%, the S&P 500 rose 0.6%, and the Nasdaq added 1%. AI software stocks fared better, with Palantir up 4.7% on new deals with Surf Air Mobility and Nvidia, and Nvidia itself rising 0.7%.

Palantir Technologies announced two deals on Monday to accelerate commercialization of its software. The company is expanding its partnership with Surf Air Mobility to commercially scale OperatorOS, OwnerOS, and SurfOS Enterprise solutions, with dedicated go-to-market resources. Separately, Palantir struck a deal with Nvidia to run Nvidia AI and Nemotron open AI models in sovereign environments, targeting U.S. government agencies and critical infrastructure. Palantir shares rose 2.2% in premarket trading.

Palantir Technologies and Surf Air Mobility are expanding their partnership to accelerate the development and commercial release of SurfOS products, including OperatorOS, OwnerOS, and SurfOS Enterprise Solutions. The companies are committing additional engineering and go-to-market resources following the successful commercial launch of BrokerOS and a multi-million-dollar contract with Wheels Up as the launch customer for Enterprise BrokerOS. SurfOS, powered by Palantir's AIP and Foundry, aims to bring modern software to the private aviation and air mobility industries, which have historically relied on manual processes and fragmented systems. The expanded collaboration includes dedicated resources for commercial expansion, focused go-to-market support leveraging Palantir's expertise in fragmented industries, and expedited development timelines including the deployment of AIP agents across SurfOS products.

BETA Technologies, Surf Air Mobility, and Hawaiian Airlines have launched an electric aircraft demonstration program in Hawaiʻi. BETA's ALIA CTOL electric aircraft will conduct a six-to-eight-week flight campaign to evaluate operational, economic, and infrastructure requirements for future electric aircraft operations in the state. Surf Air Mobility, through its Mokulele Airlines subsidiary, intends to deploy BETA aircraft for cargo and passenger missions following FAA certification. Hawaiian Airlines is supporting the program by sharing insights on cargo and passenger routes, participating in feasibility assessments, and supporting community engagement. The data generated will help define the requirements for integrating electric aircraft into commercial regional air service.