Palantir CEO Says Tech Similar To ChatGPT Is One That Will 'Raise Ships And Sink Ships'

Palantir Technologies Inc. PLTR CEO Alex Karp touched on the importance of large language models, or LLMs, at the company's first-quarter earnings conference call on Monday.

What Happened: Karp said that the LLM revolution was one that "will raise ships and sink ships."

Talking about Palantir's positioning, he said, "What’s most exciting about Palantir is we have our ability to launch products that are literally the only products on the market and that will, in fact, change your life and will determine who succeeds and who fails across enterprise, both government and commercial."

Karp pointed out that Palantir has faced the challenge of integrating security measures and proprietary knowledge with external large language models and generative AI. 

This is not a new problem for the company, and they were able to promptly launch their AIP platform due to their experience, said the CEO. 

He noted that the demand for this platform is unprecedented and he's seen nothing like that in his 20-year involvement with Palantir.

See Also: How To Invest In Artificial Intelligence In 2023

Why It Matters: Palantir's AIP allows for the activation of LLMs and other AI on a private network — "subject to full control" — according to the company's website.

OpenAI's ChatGPT chatbot is built on top of foundational large language models and has seen a wave of popularity recently.

At the conference call, the company's CFO Dave Glazer said, "We believe that artificial intelligence, including large language models, will prove transformational for our business and for enterprises in the government and commercial context."

Glazer said that Palantir was "rebalancing our efforts and investment to capitalize on these developments."

Palantir delivered another profitable quarter on Monday with the company's total customer count rising 41% year-over-year. U.S. customer base rose 50%.

The company expects full-year revenue to come in between $2.185 billion and $2.235 billion compared with Street estimates of $2.2 billion.

Price Action: Palantir shares soared 21.2% to $9.40 in the after-hours trading after closing 4.7% higher at $7.76 in the regular session, according to data from Benzinga Pro.

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