Tech giant Palantir posts ‘otherworldly’ growth despite criticism over Gaza
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- Palantir Technologies reported Q2 revenue of $1.94bn, up 93% year-over-year, and raised its full-year forecast to $8.15–$8.158bn from a prior $7.65–$7.662bn range.
- Palantir shares jumped more than 14% in after-hours trading as CEO Alex Karp called the quarter 'otherworldly,' citing 149% year-over-year growth in US commercial revenue and overall revenue compounding 'at a rate and scale we have never before witnessed.'
- Palantir's US government revenue climbed 90% to $809m, even as critics link its tools to President Trump's immigration crackdown and 'unlawful deportations and killings.'
- Since its January 2024 'strategic partnership' with Israel, Palantir has significantly expanded work supporting Israeli military operations in Gaza and the occupied West Bank, recruiting former Unit 8200 operatives whose software integrates intercepted communications and satellite imagery to help generate targeting lists, per Open Intel.
- Palantir secured a $323m UK Ministry of Defence contract in January and a separate $444m NHS contract from November 2023, both drawing scrutiny over handling of sensitive health data and heavy redaction of contract documents.
- CEO Alex Karp and head of corporate affairs Nicholas Zamiska co-authored The Technological Republic, arguing tech companies have a responsibility to build advanced military AI — a philosophy critics have labeled 'techno-fascism.'
Why it matters: Palantir's 93% Q2 revenue surge included 90% growth in US government contracts ($809m), a raised $8.15bn+ annual forecast, and expanded Israeli military work supporting Gaza and West Bank operations — demonstrating that controversy over its deportation and targeting tools has not slowed demand from governments.
