On Tuesday, Palantir Technologies Inc. (NASDAQ:PLTR) CEO Alex Karp strongly pushed back against claims the company spies on U.S. citizens, defending its platforms as among the hardest technologies in the world to abuse as its stock price and revenue surge.
Karp Pushes Back On Surveillance Claims
Speaking during an All-In Podcast conversation, David Sacks asked Karp whether Palantir runs large-scale surveillance on Americans.
In response, Karp replied firmly, saying, "We’ve never done anything like this. I’ve never done anything like this."
He added, "We are the single worst technology to use to abuse civil liberties, which is, by the way, the reason why we could never get the NSA or the FBI to actually buy our product."
Karp argued that Palantir's software uses immutable logs, serialization and deserialization that make it nearly impossible to secretly track individuals.
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Addressing Criticism And Misconceptions
Karp said critics often misunderstand Palantir's products. "Any technology that works can be abused," but Palantir's products are built to be the "hardest in the world to abuse," he noted, urging skeptics to test the software themselves rather than trust speculation.
He also dismissed past accusations, saying that they were asked under a Democratic administration to build a Muslim database, which Palantir refused.
NYT Report And Employee Dissent
His remarks follow a New York Times report from earlier this year that alleged that the Donald Trump administration used Palantir's Foundry platform to expand federal data sharing, raising privacy concerns over combining bank records, medical claims and student debt data.
Palantir called the report "blatantly untrue" and said Foundry includes granular safeguards.
Separately, 13 former employees signed a letter urging the company to cut ties with the Trump administration.
Revenue Growth And Stock Surge
Despite the scrutiny, Palantir's financial performance continues to climb. In the second quarter, the company reported $1.004 billion in revenue, up 48% year-over-year and above analyst estimates.
It was Palantir's eighth consecutive quarter of beating Wall Street expectations.
U.S. revenue surged 68% to $733 million, driven by a 93% jump in commercial revenue and a 53% increase in government contracts. The company also raised full-year revenue guidance to about $4.15 billion, well above prior projections.
Shares of Palantir have soared more than 365% over the past 12 months and are up nearly 116% year-to-date, according to Benzinga Pro.
Benzinga's Edge Stock Rankings show that while PLTR faces short-term volatility, it continues to demonstrate solid medium and long-term growth. More detailed performance insights can be found here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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