Palantir's AI Ambitions and Political Influence Grow Amid Pentagon Speculation

Palantir's Shyam Sankar Says AI The New Frontier In Defense -- Reflects On Possible Pentagon Rule Under Trump As Stock Soars - Booz Allen Hamilton (NYSE:BAH), Amazon.com (NASDAQ:AMZN)

Palantir Technologies Inc. PLTR Chief Technology Officer Shyam Sankar highlighted the critical role of artificial intelligence in national defense and outlined the company's vision for rebuilding America's industrial base during a CNBC "Closing Bell Overtime" appearance on Saturday. What Happened: Sankar, who is reportedly under consideration for a top Pentagon research position in President-elect Donal Trump's administration, emphasized how only 6% of defense spending historically went to defense specialists, with most funds directed to dual-purpose companies until 1990. "We need to rally together as a country to organize around this problem," Sankar said, citing current global challenges including North Korea's involvement in Ukraine and Iran's nuclear developments. "AI is the determinative factor because you need a technological offset." See Also: Elon Musk Echoes Ron Paul on Foreign Aid as an 'Immoral Transfer of Wealth' Why It Matters: The company has seen significant transformation in its government and commercial sectors. While discussing Palantir's partnership with Booz Allen Hamilton Holding Corporation BAH and recent collaboration with Amazon.com Inc.'s AMZN Amazon Web Services for providing Anthropic's Claude AI models to U.S. intelligence agencies, Sankar noted the commercial market's rapid AI adoption. Palantir's expanding influence comes as its market value reached $173 billion, surpassing traditional defense contractor Lockheed Martin Corp. LMT. Addressing speculation about a Pentagon position, Sankar expressed commitment to Palantir: "I'm very happy... I've been here 19 years as the 13th employee, and I think we have an opportunity to build a generational company." Wedbush Securities Managing Director Dan Ives has identified Palantir as a leader in enterprise AI transformation. The company's stock has surged 93% since joining the S&P 500 in September, reflecting growing investor confidence in its government contracts and AI partnerships. Price Action: Palantir stock closed at $76.34 on Friday, up 6.22% for the day. In after-hours trading, the stock gained an additional 1.52%. Year-to-date, Palantir has surged 360.43%. According to data from Benzinga Pro, Palantir has a consensus price target of $30.22 from 18 analysts, with a high of $75 and a low of $7.50. The three most recent ratings, issued by BofA Securities, Wedbush, and Goldman Sachs, average a price target of $63.67, suggesting a potential downside of 17.85% from current levels. Read Next: Bashar Al-Assad And His Family Granted Asylum By Russia: Kremlin Source Says 'Always Spoken In Favor of Political Settlement' Image Via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Trump Eyes Shyam Sankar For Pentagon Role While Palantir Gains From Border Crisis Contracts -- Analyst Says, 'This Is A Win For The Stock' - Lockheed Martin (NYSE:LMT), Palantir Technologies (NASDAQ:PLTR)

Palantir Technologies Inc. PLTR has emerged as a pivotal player in government technology and artificial intelligence, with its influence expanding from immigration enforcement to potential Pentagon leadership. What Happened: The company's Chief Technology Officer, Shyam Sankar, is being considered for the Pentagon's top research and engineering position, Politico reported on Wednesday, citing two sources close to the transition team. Sankar has advocated for reforming the Pentagon's acquisition system and criticized the defense industry's consolidation. Palantir's market value recently reached $159 billion, surpassing traditional defense contractor Lockheed Martin Corp. LMT, marking a significant shift in the defense sector landscape. The company's stock surged after receiving FedRAMP High Authorization for its Federal Cloud Service, expanding its government agency capabilities. Nicholas Wealth Management founder David Nicholas noted on X that Palantir's multimillion-dollar contract with Immigration and Customs Enforcement positions it to benefit from increased border security spending. Palantir is poised to benefit from President-elect Donald Trump's border security initiatives, according to Nicholas. He wrote, "This is a win for the stock as billions of dollars will be spent to end the border crisis." See Also: Mohamed El-Erian Calls Michel Barnier's Ouster An Example Of 'Messy Politics,' Notes Greek And French Bonds Achieving Historic Parity Why It Matters: The company's involvement in immigration enforcement has drawn criticism. According to The Guardian's opinion piece in 2020, Palantir's software was instrumental in ICE operations, including workplace raids that led to mass arrests. In 2017, the company's technology was used to map family relations of unaccompanied migrant children, contributing to controversial border policies. The company maintains these government partnerships despite protests from workers and civil rights organizations, with CEO Alex Karp stating in a company filing, "We stand by [government clients] when it is convenient, and when it is not." Wedbush Securities Managing Director Dan Ives identifies Palantir as a frontrunner in enterprise AI transformation, calling it "the biggest tech trend in the last 40 to 50 years." According to a Wall Street Journal report, however, Palantir's government revenue growth slowed to 10% in 2023 from over 20% in 2022. Price Action: Palantir stock closed at $69.85 on Wednesday, down 1.56% for the day. In after-hours trading, the stock edged lower by 0.21%. Year to date, Palantir's stock has surged 321.29%. According to data from Benzinga Pro, Palantir has a consensus price target of $30.22, with a high of $75 and a low of $7.50. Recent ratings average $63.67, implying an 8.66% downside. Read Next: Michael Saylor's Bitcoin Strategy Drives MicroStrategy's 490% Surge, Hedge Fund CIO Says It's An 'Extreme Example' Of Volatility Monetization Image Via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Alex Karp Supports DOGE, As Trump Taps Palantir's Shyam Shankar For Border Security Role: 'Cannot Have A Better Person Than Musk' - Tesla (NASDAQ:TSLA), Palantir Technologies (NASDAQ:PLTR)

Palantir Technologies Inc. PLTR CEO Alex Karp expressed strong support for The Department of Government Efficiency and Tesla Inc. CEO Elon Musk during a Fox News interview on Thursday, highlighting the growing intersection of technology and government reform. What Happened: "I wholeheartedly support DOGE, and you cannot have a better person than Musk," Karp stated, aligning with DOGE co-lead Vivek Ramaswamy's efforts for government reform. The company's political influence continues to expand, with recent reports suggesting that Palantir's Chief Technology Officer, Shyam Sankar, is reportedly being considered for the Pentagon's top research and engineering position under President-elect Donald Trump's administration. This development comes as Palantir's market value reached $159 billion, surpassing traditional defense contractor Lockheed Martin Corp. The tech giant's influence extends through its founder Peter Thiel's strong ties to both Trump and Vice President-elect J.D. Vance. See Also: Federal Judge Rejects Boeing's Plea Deal In 737 Max Fraud Case, Cites Concerns Over Diversity Policies And Monitor Selection Why It Matters: These connections, coupled with Palantir's recent partnership with Amazon Web Services to provide Anthropic's Claude AI models to U.S. intelligence agencies, underscore the company's growing political and technological clout. Wedbush Securities Managing Director Dan Ives has identified Palantir as a frontrunner in enterprise AI transformation, calling it "the biggest tech trend in the last 40 to 50 years." During the interview, Karp emphasized the company's AI capabilities: "We've managed our model in AI so that it actually delivers value -- on the battlefield, to bring soldiers home, to kill enemies, or commercially, to change margins." The company's expansion in government contracts and AI partnerships has driven significant growth, with its stock surging 93% since its inclusion in the S&P 500 in September. Price Action: Palantir stock closed at $71.87 on Thursday, up 2.89% for the day. In after-hours trading, the stock increased by 0.30%. Year to date, Palantir's stock has surged by 333.47%. According to data from Benzinga Pro, Palantir has a consensus price target of $30.22, based on 18 analysts. The highest target is $75, and the lowest is $7.50. The recent ratings from BofA, Wedbush, and Goldman Sachs suggest an average target of $63.67, implying an 11.68% downside. Read Next: Trump Appoints Venture Capitalist David Sacks As White House Crypto And AI Czar: 'He Will Work On A Legal Framework' Palantir CEO Alex Karp. Photo by WEF on Flickr Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs