The Financial Post reports in its Tuesday edition that Palantir's meteoric rise is pushing the company's valuation further into record territory, forcing bullish investors to bank on increasingly robust future growth to justify its current level. A Bloomberg dispatch to the Post says shares of the data software company have gained close to 2,500 per cent since its 2020 debut. It is up almost 150 per cent this year, a rally underpinned by the company's growing use of artificial intelligence, business ties to the U.S. government and most recently a stellar earnings report. That surge has made Palantir eye-wateringly expensive compared with its peers. Trading at 245 times forward earnings, it is among the most richly valued companies in the S&P 500 index. By comparison, chipmaker Nvidia, after its stellar run, trades at just 35 times forward earnings. Palantir is "turning into a bit of a difficult valuation story to sell, but it's a great company," said Mark Giarelli at Morningstar, who has a sell-equivalent rating on the stock. The valuation "causes heartburn, but that's the story right now." Plenty of Wall Street pros and retail investors alike are happy to hang on for now, wary of missing out on further upside.