A quarter "out of this world." That was how Alex Karp, co-founder and CEO of the American artificial intelligence (AI) software giant Palantir, defined it. The company reported a 93% increase in revenue, reaching US$1.94 billion, compared to US$1 billion in the same period of the previous year.
The market also recognized the company's impressive growth and reacted positively to the results. On Tuesday, July 4th, Palantir's shares on Nasdaq were trading up 26.7%, around 11:40 AM (local time).
The company forecasts closing 2026 with revenues of US$8.15 billion and commercial segment revenue exceeding US$3.4 billion. Analysts have also expressed optimism about the performance of the AI systems company.
“Forget the consensus,” Karp tells CNBC. “To my knowledge, no company of our scale has grown even half that much.”
The company attributed its results to the growing demand for AI sovereignty, at a time when companies are trying to keep their data protected without exposing themselves too much to cutting-edge technologies such as those from OpenAI, Google, Meta, and Anthropic.
In a letter to shareholders, Karp stated that "the revolution for AI independence and sovereignty is already in full swing." According to the founder, the company has "Marxist values."
“Our clients refused to become vassal states of language labs,” the CEO says in the letter. “Organizations worldwide are becoming aware of the risks of handing over the keys to their institutions to the creators of language models, of letting those models run rampant within their walls.”
The letter is surprising for a company whose co-founders include Peter Thiel, one of the most influential entrepreneurs in Silicon Valley: co-founder of PayPal, first major investor in Facebook, and creator of Palantir alongside Alex Karp.
A central figure in the US technology and venture capital ecosystem, Thiel is known for his openly conservative and libertarian views, advocating for less state intervention, greater individual autonomy, and a critical stance toward what he considers the cultural and political excesses of large technology companies.
His political activities include supporting Republican candidates, including the current President of the United States, Donald Trump, and funding initiatives aligned with conservative agendas.
Enterprise AI
Citi analysts stated on Tuesday, the 4th, that Palantir's balance sheet weakens the pessimistic scenario regarding increased AI competition, since, in their view, the demand for data privacy from companies in the sector differentiates them from others.
Companies today rely on Palantir's technology to integrate their software, while simultaneously demanding that their data be kept private from AI models.
"The results reinforce Palantir's position as one of the clearest beneficiaries of enterprise AI adoption, with growing commercial demand demonstrating that the company is benefiting from demand similar to that of the fastest-growing native AI companies in the market," the bank says in the report.
In the letter sent to shareholders, Karp said that laboratories operating in the AI segment are not trustworthy enough for companies. "Many of those who build large language models intend, consciously or unconsciously, to capture the means of production of their supposed partners."
Palantir provides AI software and model analytics for governments and businesses, enabling organizations to control their data as well as their AI results. In practice, this means more control over operations.
“You are paying for their right to migrate your intellectual property, your know-how, your expertise to their model, so that they can build a competitive business that doesn't need your company or your people. And why do they do this? In fact, they do it for reasons they consider moral. They are superior to you. They deserve to colonize your company,” says the CEO.
Palantir's revenue from the U.S. government surged 90% in the quarter, reaching $809 million. Modern warfare and geopolitical uncertainty have led administrations to invest in advanced defense technologies, such as Palantir's AI-powered battlefield software and Anduril's autonomous drones.
The two companies are working on developing software for a Golden Dome anti-missile shield, as part of an initiative by US President Donald Trump.
The company's business dealings in the United States have been closely monitored by European governments, which are increasingly concerned about their reliance on American technology platforms, just as competition from AI startups intensifies.
As of 2026, Palantir's shares are projected to fall by 10.1%. The company is valued at US$380 billion.
