AI/data analytics platform with deep US defense roots. $2.87B FY2024 revenue (~50% government). Foundry + Gotham platforms; AIP (Artificial Intelligence Platform) launched 2023. Major DoD wins: TITAN (Army intelligence ground station, $618M), Project Maven (DoD AI), JADC2 contributor. Market cap over $300B at peak 2025.
Key Milestones
Founded by Peter Thiel, Alex Karp, Stephen Cohen, Joe Lonsdale, Nathan Gettings in Palo Alto. Named after Tolkien 'palantíri' seeing-stones.
In-Q-Tel (CIA venture arm) provides $2M seed November 2005 and becomes first customer; Gotham platform built for counterterror analysis post-9/11.
Gotham deployed at USSOCOM and JIEDDO; key tool for IED network analysis in Afghanistan/Iraq. Reportedly used in Bin Laden raid intelligence preparation 2011.
Sues US Army to get DCGS-A intelligence platform competition reopened; wins case 2016 setting precedent for COTS-first DoD acquisition reform.
Wins $876M US Army DCGS-A2 (Distributed Common Ground System) over Raytheon; major intel platform displacement
Project Maven prime contract awarded to Palantir; algorithmic ISR processing across DoD
Direct listing on NYSE (PLTR) Sep 30 2020 at $7.25/share reference; ~$21B valuation. Foundry commercial business + Gotham government business.
AIP (Artificial Intelligence Platform) launch April 2023; LLM-augmented operational decision support to defense + commercial customers.
Wins Project Maven Smart System ('MSS') $480M IDIQ contract from CDAO replacing earlier work
Wins TITAN (Tactical Intelligence Targeting Access Node) prototype contract worth $618M, defeats RTX
Maven IDIQ ceiling raised to $480M then expanded to $1B+; sustained DoD enterprise AI growth
Joins S&P 500 Sep 23 2024; market cap surges past $80B after AIP demand inflection
Maven Smart System ceiling raised to $2.5B IDIQ Dec 2024; Pentagon's flagship AI/ML data fabric across DoD components.
Wins Army NETC (Next-Gen Command & Control) prototype framework for $400M; AI-native combat C2
Government revenue exceeds $1.6B annualized; defense AIP deployments active across CENTCOM, INDOPACOM, EUCOM
Market cap exceeds $300B briefly amid AI defense thesis; Karp ascends as Pentagon AI 'systems integrator'. Replicator-related awards at scale across drone autonomy stacks.