Gotham and Metropolis are Palantir’s two main products. Counterterrorism analysts at numerous US government agencies use Gotham. Till a few years ago they sold the data to only the government sector.
Palantir Technologies, a data analytics company, started as a tech intelligence startup to provide data intelligence and security aid to the US government long before AI became a tech rage. It used to provide US intelligence agencies with high technology to recognised threats before they arise.
It is rumored that the company with its cutting-edge technology likely helped the US government track down Osama bin Laden.
The story of the company has its roots in the tragic event of 9/11. Palantir’s CEO Alex Karp realised the deep flaws in American intelligence that led to such a tragic event and recognised them. He felt there was a need for better tools and technology to prevent such terrorist acts and threats of such large scale. After this event, Karp co-founded Palantir with Peter Thiel in 2003. Their goal was to use data in such a way that threats like these can be prevented.
The CEO said that he has created such a company that turns huge amounts of data into powerful tools used for intelligence and national security.
Palantir’s products
Gotham and Metropolis are Palantir’s two main products. Counterterrorism analysts at numerous US government agencies use Gotham. Till a few years ago they sold the data to only the government sector.
However, the company has a secretive reputation stemming from their operations in fields like spycraft, antiterrorism, and intelligence collection. While Metropolis is mostly utilized by financial services firms, Gotham is utilized for a variety of purposes, including counterterrorism.
What does Palantir do?
War, surveillance, and AI are Palantir’s main areas of operations which heavily dealt in
tech and privacy issues. They create software that enables soldiers and spies to track down the threats by making connections between mountains of data that are impossible for a human to handle on their own. And they do all of this while attempting to tightly control any personal information that shouldn’t be involved.
Not just military intelligence, they expanded into the fields of finance, medicine, and even aviation. For example, Palantir was there to help manage the crisis when COVID-19 threw the world into disarray by using data analysis to track the virus’s spread and distribute supplies.
However, this heroic way of functioning has not let the company or its founders out of controversies as they have always swum in the risky waters of tech and privacy. The company transformed the way technology is used in the most sensitive areas of security and privacy.
By providing solutions to increase operational efficiency and reduce expenses, Palantir has set its eyes on revolutionizing the business sector. Their products are now also used to detect fraud and help charity organisations. Examples include, investigating illegal financial transactions connected to global human trafficking, they declined a sizable contract with a major tobacco corporation because they were concerned that the data might identify the groups most vulnerable to cigarette sales.
Palantir’s rise in market
Under Karp’s direction, Palantir has become a significant force in AI and machine learning. The company’s stock has risen 300 percent since April 2023, greatly exceeding both Nvidia’s 180 percent gain and the S&P 500’s 28 percent increase. The company has won large contracts, such as the USD 178 million TITAN combat system and the USD 480 million Maven AI project. The value of Palantir’s cofounders’ stock holdings skyrocketed through 2024 when the company’s market capitalization nearly doubled.
Who is Alex Karp?
Alex Karp, an unsual leader, has been the company’s CEO since 2004, and as of December 2024, Forbes estimated his net worth at US$7.7 billion. He completed his PhD in neoclassical social theory from Goethe University Frankfurt after which he founded Palantir. Karp donated to Joe Biden during 2020 election and even this time he supported Kamala Harris while Thiel supported Donald Trump.
