Palantir Technologies Inc. (NYSE: PLTR) CEO Alex Karp took a resolute stance in defending the company’s controversial partnerships with military and government agencies, despite facing intense criticism. In a recent interview with the New York Times, Karp asserted that Palantir will not back down from its pro-Western ideology, even amid polarizing debates on issues involving countries like Iran, Russia, and China. He emphasized that the company’s collaboration with U.S. Immigration and Customs Enforcement (ICE), military forces, and its support for Ukraine and Israel, are non-negotiable.Karp also touched on his support for the Biden administration, particularly President Joe Biden and Vice President Kamala Harris, despite criticisms of their handling of border issues and perceived reliance on Hollywood elites. He underscored the critical role of artificial intelligence (AI) in the modern era, positioning Palantir as a leader in preventing AI abuse, aligning with the company’s broader strategic vision.
Financially, Palantir continues to outperform expectations. The company reported robust second-quarter results for 2024, with revenue hitting $678.13 million—a 27% year-over-year increase, significantly surpassing the analyst consensus of $652.1 million. This growth was fueled by a 33% rise in commercial revenue and a 23% uptick in government contracts. Notably, Palantir has been recognized by Wedbush Securities analyst Dan Ives as the “Messi of AI,” and has seen increased investment from Cathie Wood’s Ark Invest.
Palantir's stock has demonstrated significant strength, surging over 121% in the past 12 months. The stock continues to attract investor interest, with opportunities for exposure through major ETFs such as Vanguard Mid-Cap ETF (NYSE: VO) and Vanguard Total Stock Market ETF (NYSE: VTI).