Palantir
Palantir, a 23-year-old software company, provides AI-powered data platforms to over 950 clients, including government and commercial organizations. The company has faced controversy over its contracts with the U.S. military and ICE, particularly regarding the use of its technology in military operations. Despite criticism, Palantir's commercial business is growing rapidly, with record profits and a 70% year-over-year revenue increase to $1.4 billion.
- ▪Palantir serves clients such as the U.S. Department of Defense, the U.K. National Health Service, and Airbus with AI-integrated data platforms.
- ▪In May 2025, Palantir received a $795 million contract modification to supply its Maven Smart System, reportedly used in military operations in Iran.
- ▪The U.S. Army consolidated 75 contracts into a new agreement allowing up to $10 billion in Palantir software purchases over 10 years.
- ▪Palantir's commercial business is now roughly equal in size to its government business and is growing quickly.
- ▪In February, Palantir reported its most profitable quarter with $1.4 billion in revenue, a 70% increase from the previous year.
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Palantir has something for everyone. The 23-year-old company makes software platforms—into which it embeds AI—that help organizations understand and make decisions with their data. Its more than 950 clients include the U.S. Department of Defense, the U.K. National Health Service, and Airbus. Across finance, logistics, manufacturing, energy, telecommunications, and more, the value proposition is the same: let our engineers plug your data into our platforms, so you can do your work better. Some of this work has generated controversy; In May 2025, Palantir was awarded a $795 million modification to its contract with the U.S. Army to license its Maven Smart System—the same system which, since February, has reportedly been used in the war in Iran to identify strike targets.
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