Latest news with #AlexKarp
Gizmodo
4 days ago
- Business
- Gizmodo
Palantir's CEO Throws Money Behind Andrew Cuomo in NYC Mayoral Race
Alex Karp, the billionaire CEO of creepy defense contractor Palantir, has taken a side in New York's closely watched mayoral race. Karp, who once bragged that his company kills people, recently gave a large sum of money to a Super PAC that is supporting the campaign of former New York governor Andrew Cuomo. Cuomo is currently running against Zohran Mamdani, a 33-year-old assemblyman for the city's 36th district in Queens. The race between the two candidates has become a referendum on New York's future, with both candidates offering drastically different visions for housing and economic policy. Mamdani has described himself as a democratic socialist, while Cuomo is campaigning on a promise to bring sensible centrism back to the city after the fiasco that has been Eric Adams's administration. Politico notes that Karp recently donated $90,000 to Fix the City, which is backing Cuomo's campaign. The contribution further cements a picture of Karp's politics that leans rightward, though Karp has, in the past, referred to himself by a variety of political labels—even calling himself a 'socialist' or a 'neo-Marxist.' We can surely call BS on that now, since Karp is currently using his money to defeat an actual socialist. Indeed, Karp is just one of several billionaires who are pouring money into Cuomo's campaign in an apparent effort to stave off a more populist form of government in the city. Despite Cuomo's promise to fight Trump, a number of MAGA fixtures, like Trump fan Bill Ackman, have thrown their support behind the former governor. Cuomo's campaign has rested on a series of vague promises about improvements for city services and the bragging point that he 'knows how government works.' Of course, NYC is a city where Republicans have a tough time in modern politics, so the Democratic primary is where the action is. Mamdani, meanwhile, has championed many leftist economic policies, including the establishment of government-owned and operated supermarkets to bring down food prices. He has also championed rent freezes in a city where the cost of living just keeps going up. His critics have noted that Mamdani has substantially less government experience than Cuomo and, prior to his political career, was a rapper for several years known as 'Mr. Cardamom.' Cuomo notably served as the governor of New York from 2011 until 2021, when his administration combusted as a result of several scandals, including allegations of sexual harassment leveled against him by former female aides. A criminal case against Cuomo was brought over the allegations, but the charges were dropped in January of 2022, with authorities citing a lack of evidence. Palantir, meanwhile, has increasingly wedded itself to the Trump administration and is assisting the government with its deportation efforts, as well as in a controversial data centralization effort that has drawn criticism from privacy and civil liberties advocates.
Time of India
4 days ago
- Business
- Time of India
Democrats demand answers as Palantir faces heat over Trump deals to build massive American data hub
A group of Democratic lawmakers sent a letter to Palantir's CEO Alex Karp on Monday, asking for answers about huge government contracts the company got. The lawmakers are worried that Palantir is helping make a huge database of Americans private information, which might break U.S. laws, according to reports by the Associated Press and New York Times. Senator Ron Wyden from Oregon and Representative Alexandria Ocasio-Cortez from New York wrote the letter and was signed by Senators Elizabeth Warren, Jeff Merkley, Ed Markey. They pointed to a New York Times report that said Palantir got hundreds of millions of dollars in new government contracts during Trump's second term, as per the report by Common Dreams. According to the letter, Palantir employees are working inside the IRS to help build a single, searchable database of taxpayer records. This private taxpayer data could be shared across the government, even when it's not related to tax stuff, which is likely illegal under U.S. law. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Домашен мини електротрион - лесно рязане на всякакъв вид дърво Murreice Научете повече Undo Palantir's tools were reportedly chosen for this project by a group called Department of Government Efficiency (DOGE), which is led by Elon Musk. Several people in DOGE are said to be former Palantir employees. Why lawmakers are alarmed The lawmakers called the mega-database plan a 'surveillance nightmare', saying it could help Trump spy on people he sees as enemies. They warned that Palantir's software could be used in domestic spying that violates Americans' rights, according to the report by Common Dreams. Live Events The letter listed Trump's past actions that they believe show he misused power, including threatening to arrest the governor of California, using National Guard troops for immigration raids without approval, sending Marines to Los Angeles against local wishes, and calling the press 'the enemy of the people'. Palantir's controversies The lawmakers said Palantir also helped with ICE deportation operations and deadly military actions carried out by the U.S. and its allies. The letter didn't mention Palantir's role in Project Nimbus, a cloud deal with Israel's military, Amazon, and Google, which some say is linked to human rights abuses, as stated in the report by Common Dreams. But the lawmakers did say that other big companies like IBM, Cisco, and Honeywell have also been part of human rights abuses in places like Nazi Germany, apartheid South Africa, China, Saudi Arabia, and Egypt. They asked the CEO to provide a full list of Palantir's government contracts. The amount of money for each and the federal agencies involved. Whether Palantir has any limits when it comes to working with groups that violate human rights, as reported by Common Dreams. FAQs Q1. Why are Democrats asking questions about Palantir? Because they think Palantir is helping build a big database of Americans' private info that might break U.S. laws. Q2. What do they want from Palantir's CEO? They want details about the company's government contracts and whether it follows human rights rules.
Yahoo
15-06-2025
- Business
- Yahoo
Palantir (PLTR) Target Raised to $140 on Strong AI Momentum
Palantir Technologies (PLTR, Financials) received a fresh vote of confidence from veteran portfolio manager Chris Versace, who raised his price target on the data analytics company to $140 per share as demand for artificial intelligence tools continues to expand across industries. Palantir has surged 63% year to date after climbing 340% in 2024, fueled by growing adoption of its AI platform, enterprise Foundry suite, and defense-focused Gotham product. The company reported first-quarter revenue of $884 million, up 39% from a year earlier, with net income of $214 million and adjusted earnings per share of 13 cents. CEO Alex Karp said in the Q1 release that U.S. commercial revenue rose 71% year over year, surpassing a $1 billion annual run rate. He described the company as "the operating system for the modern enterprise in the era of AI. Versace cited Palantir's expansion into new verticals, including a recent deal with Bolt Financial to deliver agentic AI-powered retail checkout experiences, as evidence of growing private-sector traction alongside its longstanding government contracts. He said the increasing diversity of use casesfrom banking and biotech to logistics and national securityshould allow Palantir to continue cross-selling and scaling its platform. Full-year guidance calls for 36% top-line growth and 68% growth in U.S. commercial revenue. Versace said the commercial tailwinds support his upgraded $140 target. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Why Palantir Stock Soared in May
Palantir released a mostly positive earnings report, as well as announcing several new partnerships. The company's CEO accompanied President Trump to Saudi Arabia. However, Palantir's valuation is sky-high and continues to be a cause for concern. 10 stocks we like better than Palantir Technologies › Shares of Palantir Technologies (NASDAQ: PLTR) were up in May. The company's stock finished the month up 11.3%. The move came as the S&P 500 (SNPINDEX: ^GSPC) was up 5.5% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 7.9% during the month. The artificial intelligence (AI)-powered data analytics company released mostly positive earnings and announced several key new partnerships, and CEO Alex Karp accompanied President Trump on a trip to Saudi Arabia. Palantir reported Q1 earnings per share (EPS) of $0.13 on sales of $884 million. That revenue figure was up 39% year over year (YOY), beating Wall Street expectations. There was some cause for concern, however, as global sales declined 10% YOY. Given this international weakness, the timing of Karp's trip to Saudi Arabia could not have been better. Karp, along with other high-profile CEOs, accompanied President Trump on a trip to the Middle Eastern country. The trip ended with Trump announcing that Saudi Arabia had committed to $600 billion in investments and, although specifics were light, some of this is likely to flow into Palantir's coffers. Palantir announced new partnerships with xAI, the Joint Commission, and the manufacturer Fedrigoni. The partnerships will all leverage the company's unique capabilities to boost efficiency, maximize profits, and reshape outdated business practices. The wide range of distinct organizations and problems shows the incredible adaptability of Palantir's technology. This is nothing new for investors who have followed the company at all, but the fact is that Palantir stock is incredibly expensive. The company's price-to-earnings ratio (P/E) currently sits north of 570. Its price-to-sales ratio (P/S) is 105. These are astronomical numbers. Consider this: When Nvidia was seeing peak growth in 2024 -- growth that far outstrips what Palantir is delivering today -- the chipmaker's P/E and P/S were both roughly half that of Palantir's. And when Cisco was at its peak in 2000, before it became the face of the dot-com crash, it too only reached roughly half the valuation that Palantir now carries. I do not believe Palantir can justify this valuation, and it is a matter of time before the stock comes back to Earth. Although it's clear that the company offers an extremely valuable product, I think it's fair to classify it as a meme stock at this point: Too much of its value is driven by pure hype. Before you buy stock in Palantir Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Palantir Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,341!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $874,192!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cisco Systems, Nvidia, and Palantir Technologies. The Motley Fool has a disclosure policy. Why Palantir Stock Soared in May was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
12-06-2025
- Business
- Business Insider
‘A Multibagger Potential,' Says Investor About Palantir Stock
Few stocks in the AI space have captured investor attention quite like Palantir (NASDAQ:PLTR). With strong revenue growth, solid profit margins, and a growing roster of loyal clients, the company has become a force to watch. Its share price has skyrocketed by roughly 472% over the past year, driven by a wave of enthusiasm. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter What sets Palantir apart isn't just performance – it's the crowd behind the rally. Retail investors now own more than 40% of the stock, a far higher share than seen in tech giants like Microsoft (23%), Nvidia (29%), or Amazon (26%). That unusual ownership mix hasn't gone unnoticed. One investor, known by the pseudonym The Alpha Analyst, remarked: 'Palantir stands out for its unusually high retail ownership among mega caps, creating both volatility risks and a rerating opportunity as institutions accumulate.' According to Alpha Analyst, that shift may already be underway. The investor notes that institutional investors were largely sidelined during Palantir's IPO due to structural limitations, such as the dual-class voting shares favoring CEO Alex Karp. Combined with the stock's rapid run-up, these factors initially tempered institutional appetite. However, as the company matures and demand for AI-driven platforms continues to climb, Alpha Analyst believes that more institutions will begin building positions, providing a potential second wave of momentum for the stock. It's not just this restructuring that could push PLTR shares higher. There are also ample opportunities for Palantir to grow its business: attracting 'stickier' government and enterprise clients, capitalizing on its established defense and intelligence capabilities, and expanding its international footprint. Of course, the valuation question looms large, as the share price has been consistently trending skyward. The Alpha Analyst appreciates these concerns – 'it would be good (always is) to be able to buy Palantir at better valuations' – but nevertheless believes that there is no time like the present. 'Given the long-term multibagger potential even at these levels, and the structural strength of the rally, waiting will not be ideal advice,' concludes Alpha Analyst, who obviously rates PLTR a Buy. (To watch The Alpha Analyst's track record, click here) Wall Street, while of mixed opinions, is by and large happy to wait. With 3 Buy, 11 Hold, and 4 Sell recommendations, PLTR carries a Hold (i.e., Neutral) consensus rating. Its 12-month average price target of $101.06 implies a downside of ~25% from current levels. (See PLTR stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
