US EditionPalantir CEO defends surveillance tech as US government contracts boost sales
Palantir's U.S. government contracts, including a $30 million deal with ICE, helped drive a 70% revenue increase with safeguards to address privacy and overreach concerns.
- On Monday, Alex Karp, CEO of Palantir Technologies, defended the firm's surveillance and AI tools as total sales of $1.41 billion exceeded analysts' estimates.
- U.S. government contracts lifted revenue, as Palantir won a $30 million contract with U.S. Immigration and Customs Enforcement in April for real-time visibility systems.
- The CEO emphasized legal and technical safeguards, noting the system requires Fourth Amendment data protections and that audit logs and permissioning controls ensure only authorized access.
- Market reacts were mixed as Palantir expects revenue between US$7.18-billion and US$7.20-billion in 2026, with shares jumping around 5% and nearly 12% early on Tuesday.
- Amid growing scrutiny after January's deadly protests, Palantir's military-grade AI marketing and the sale of a U.S. unit by CapGemini reflect broader reputational risks, critics said.
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While the Dow Jones set a new record on Tuesday, strong earnings from AI giant Palantir failed to boost the tech sector. The NASDAQ fell 1.43%. Metals markets have calmed down, with gold just below $5,000.
New York Stock Exchanges ended trading in the red today. Investors were weighed down by a large-scale sell-off in technology stocks, despite the positive reception of results from analytics group Palantir, reports the French news agency AFP.
East Bay Times
Financial PostPalantir shares rose after stronger-than-expected sales outlook
Palantir Technologies Inc. rose following a revenue forecast for fiscal 2026 that significantly exceeded Wall Street expectations, a boost for the data analytics company after its shares have gotten off to a lackluster start so far this year.
Palantir stock jumps after blowout earnings beat Wall Street estimates
Palantir Technologies shares jumped Tuesday after the defense and data analytics firm reported fourth-quarter results that exceeded Wall Street expectations, driven by accelerating demand from government customers and continued strength in its U.S. commercial business.
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