Pentagon · Palantir · Iran · U.S. · The Register
Palantir CEO: 10 percent of the world 'professionally hates us'
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The Iran War has been great for business at Palantir, as the Department of Defense has doubled usage of the company’s Maven targeting system in four months.
Key facts
- Palantir’s quarterly revenue reached $1.63 billion, up 85 percent year over year with $1.28 billion of that spend coming from customers in the US
- During the quarter ended March 31, which includes the start and the first month of the Iran War, the US government increased spending with the company by 84 percent year over year, to $687 million
- Palantir used its earnings call to show why some love it, citing its $484 million deal with the US Navy and the Maritime Industrial Base, which aims to shrink project delivery times with ShipOS
- CEO and cofounder Alex Karp told investors that the US government and the company’s commercial customers know that Palantir will support the Department of Defense’s mission, whether or not most
Summary
“Maven met its moment across real world events in Q1 … When the stakes are highest, when failure is measured in lives and readiness. During the quarter ended March 31, which includes the start and the first month of the Iran War, the US government increased spending with the company by 84 percent year over year, to $687 million. “On the factory floor side, the demand on the defense industrial base to ramp production and sustainment has been so acute that we have surged resources from our commercial business,” Sankar said. CEO and cofounder Alex Karp told investors that the US government and the company’s commercial customers know that Palantir will support the Department of Defense’s mission, whether or not most American people support the war.