ServiceNow vs. Palantir: Both Sell AI SaaS Platforms to Governments and Enterprises. Here's the Number That Actually Separates Their Growth Rates.

Palantir (PLTR) is pulling away from ServiceNow (NOW) in commercial growth velocity, with U.S. commercial revenue accelerating 149% year-over-year as its AIP platform drives rapid enterprise customer acquisition beyond its traditional government base. ServiceNow, by contrast, maintains steady 20%-plus growth fueled by AI expansion across its established customer base and a $29 billion backlog.

The divergence highlights two distinct AI SaaS strategies: Palantir is in land-grab mode, signing new commercial accounts at triple-digit rates, while ServiceNow monetizes deeper penetration of existing relationships. Both sell AI-driven platforms to government and enterprise customers, but Palantir's shift toward commercial markets represents a fundamental expansion of its addressable market, whereas ServiceNow's growth reflects execution within a mature installed base.

The 149% commercial growth figure underscores Palantir's transition from a government-focused contractor to a broader enterprise software player, a shift that has fueled recent equity outperformance.