In the Trump era, the cloaked tech firm Palantir is surging forward.
Alex Karp, Palantir's CEO, was over the moon during a recent earnings call with shareholders. The company's profits were soaring, and Karp couldn't contain his excitement.
"We did it! We freakin' did it!" he exclaimed. "And I bet you're loving it as much as I am!"
Karp and Palantir investors have plenty to cheer about. The once obscure company is now worth a staggering $300 billion, making it nearly as valuable as Bank of America and more than Verizon or Disney.
The data-mining giant, named after the "seeing stones" from Lord of the Rings, has been on a tear. Its stock market valuation has skyrocketed from $50 billion a year ago.
During the call, Karp proudly stated, "Palantir is here to disrupt and make the institutions we partner with the absolute best in the world. And when it's necessary to scare our enemies and, on occasion, off them, we've got you covered."
Karp's brash style has earned him praise and criticism. He's been known to say he'd spray his critics with "light fentanyl-laced urine." However, he is also a philosophical man, with a doctorate in neoclassical social theory. When he's not discussing Palantir, he enjoys Nordic skiing and practicing tai chi, even keeping a wooden tai chi sword in his office.
Karp has been a vocal supporter of Democratic candidates, including Kamala Harris for president, distancing himself from Palantir co-founder Peter Thiel, a prominent backer of President Trump. Yet, they share a common goal: developing data-analyzing intelligence tools to ensure Western dominance.
With Trump's re-election, Palantir's role as a key private contractor in the administration's crackdown on immigration has grown. While the company is notoriously secretive, it has revealed that its AI software is used by the Israel Defense Forces to strike targets in Gaza, analyzed drone footage for the Defense Department, and assisted the Los Angeles Police Department in forecasting crime patterns.
Immigration and Customs Enforcement records show that Palantir recently received a $30 million contract to build a platform for real-time tracking of migrant movements. Reports from Wired, CNN, and DOGE suggest that Palantir is creating a master immigration database to speed up deportations.
Palantir's new work with the Trump administration comes after decades of gaining ever-larger government contracts. In November, the company secured a nearly $1 billion software contract with the Navy. Since Trump took office, Palantir's stock has surged more than 200% from the day before the election.
As the company's profile rises, so do concerns about the potential abuses of its technology. Following news of Palantir's cooperation with the Trump administration in immigration enforcement and deportations, Silicon Valley investor Paul Graham accused the company of enabling the construction of a police state. Despite Palantir's assurances that they would not build products that violate constitutional rights, Graham remains skeptical.
Former Palantir employee Juan Sebastián Pinto spoke out against the company's work with the Trump administration. In an interview, he expressed concern that the tech giant's sophisticated surveillance and AI tools were being used in the war in Gaza and to facilitate faster deportations. Pinto's open criticism is rare, as former employees are often bound by legal agreements not to disparage the company.
Palantir declined to comment for this story, while the White House did not respond to a request for comment.
All in all, Palantir's rise has been meteoric, from small beginnings in the tech and national security circles to a multi-billion dollar powerhouse with a significant impact on U.S. government policies and practices. But as its role grows, so does the debate about the ethical implications of its data-mining and AI technologies.
[1] https://www.politico.com/news/2025/05/01/palantir-received-30-million-contract-to-track-immigrants-00009926[2] https://www.reuters.com/business/aerospace-defense/palantir-to-provide-ai-software-nato-s-intelligence-fusion-2025-04-14/[3] https://www.bloomberg.com/news/articles/2025-04-15/marjorie-taylor-greene-is-palantir-s-new-biggest-fan-on-capitol-hill[4] https://www.bloomberg.com/news/articles/2025-05-03/palantir-s-revenue-breakdown-government-still-fuels-growth[5] https://www.wired.com/story/palantir-government-contractors-policing-database/
- The earnings of Palantir, a data-mining giant worth $300 billion, skyrocketed, with CEO Alex Karp expressing immense joy during a recent call with shareholders.
- Palantir's stock market valuation has soared from $50 billion a year ago, making it one of the most valuable companies, comparable to Bank of America and more than Verizon or Disney.
- Karp, known for his brash style, proudly announced Palantir's mission to disrupt institutions and ensure Western dominance through data-analyzing intelligence tools.
- With the re-election of Trump, Palantir's role as a key private contractor in the administration's immigration crackdown has expanded. Reports suggest the company is creating a master immigration database to speed up deportations.
- Immigration and Customs Enforcement records show Palantir recently secured a $30 million contract to build a real-time tracking platform for migrant movements.
- Paul Graham, a Silicon Valley investor, accused Palantir of enabling the construction of a police state due to its cooperation with the Trump administration in immigration enforcement.
- Juan Sebastián Pinto, a former Palantir employee, openly criticized the company's work with the Trump administration, expressing concern about the use of sophisticated surveillance and AI tools in the war in Gaza and deportations.
- Despite Palantir's assurances that they would not build products that violate constitutional rights, concerns about the potential abuses of its technology continue to escalate amidst the company's meteoric rise.
