Palantir shares surged to a record high as Peter Thiel’s data analytics company reported forecast-beating results, raised its 2025 outlook and projected a windfall from President Donald Trump’s overhaul of the federal government.

Chief executive Alex Karp told analysts on Monday that work by billionaire Elon Musk and the cost-cutting Department of Government Efficiency he leads would be “good for Americans” and “very good for Palantir”, which generates about two-thirds of its US-based revenue from government contracts.

“Disruption at the end of the day exposes things that aren’t working. There’ll be ups and downs,” Karp continued. “This is a revolution. Some people will get their heads cut off?.?.?.?We’re expecting to see really unexpected things and to win.”