Palantir Technologies PLTR CEO and co-founder Alex Karp didn't hold back when discussing how the company could help military governments in a recent interview ahead of a presentation on artificial intelligence.
What Happened: Palantir may be one of the most hard-to-explain companies. Yet, it is now part of the S&P 500 Index.
Karp highlighted the company's government segment and what the 2024 election means for Palantir.
Companies need processes to help translate what data and language models mean. That’s where Palantir comes in, Karp said on CNBC.
"We figured this out by doing work for the U.S. government," he added. See below.
If you want to kill your adversary on the battlefield, "you need a way of processing the raw resources," Karp said.
When it comes to government contracts, Karp didn't seem to worry about the 2024 election winner being either Ex-President Donald Trump or Vice President Kamala Harris.
"We embody people who support both Trump and Harris,” he said, claiming to be an “unhappy radical Democrat.”
Karp also offered his take on what U.S. policy should be when it comes to retaliation for attacks on American troops.
"If you touch an American, we will inflict pain on you for generations,” he said.
What's Next: Karp said the S&P 500 inclusion comes after years of complaints against the company. However, he stopped short of celebrating the moment.
"Our job is to show and not tell," Karp said.
Palantir could be worth 10 times more in the future than what it is today, he added.
PLTR Price Action: Palantir stock was up 2% to $35.59 on Friday. The stock hit a new 52-week high of $36.01 in Friday's trading session. Palantir stock is up over 110% year-to-date in 2024.
Read Next:
Image: Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
