Palantir CEO Responds To Short Report Calling Company An 'AI Imposter,' Alex Karp Says Go 'Ask The Russians'

Palantir Technologies Inc PLTR CEO Alex Karp on Thursday responded to a short report by The Bear Cave calling the company an "AI imposter."

The author of The Bear Cave, Edwin Dorsey, shared a tweet quoting Karp as saying, "the bear cave is a bear cave, they can stay in their bear cave." Dorsey pointed out that he had previously been insulted by the CEO of eXp World Holdings Inc EXPI after a short report on the company.

LMAO last CEO to insult The Bear Cave was $EXPI saying I write reports in my pajamas

Stock down ~20% since then https://t.co/gQvkwiSTMt

— Edwin Dorsey (@StockJabber) June 1, 2023

In another tweet, Dorsey shared a "horror" story involving a Palantir customer, which stated that the software built by the company was "the worst & most expensive piece of software they had."

It's just wild there is a $30 billion public company and no one can tell exactly what they do or how they work

It's just "trust us we are the good guys"

And then simultaneously going out and paying SPACs for the illusion of revenue

Count me a big $PLTR skeptic https://t.co/JR2iHD1ZCE

— Edwin Dorsey (@StockJabber) June 1, 2023

Karp, meanwhile, spoke to Bloomberg on Thursday after hosting the company's AIPCon customer conference. His response to critics of the company and its software was "to ask the Russians."

Palantir CEO Alex Karp tells Bear Cave critics "to ask the Russians" about the success of the company's software that is being used by Ukraine in its war https://t.co/mWGieiyiDd pic.twitter.com/Z0XL1dfhsc

— Bloomberg (@business) June 1, 2023

Also Read: ChargePoint Holdings Q1 Earnings Highlights: Revenue Beat, EPS Miss, Q2 Guidance, EBITDA Update And More

The assertions Dorsey makes in The Bear Cave report include:

• Palantir has seen a 130% increase in stock value in 2023 due to retail investor enthusiasm over its proclaimed AI capabilities. However, The Bear Cave views Palantir as an "AI imposter" and an "overhyped data consultant."
• Management has fueled this enthusiasm, frequently mentioning "AI" during company calls. It was mentioned 68 times on their Q1 2023 conference call, up from 17 mentions in Q4 2022 and only six mentions in Q1 2022.
• The Bear Cave alleges that Palantir inflates its financial metrics through certain practices, like investing in companies and then requiring those companies to buy Palantir products. It reportedly invested about $400 million across 20 SPAC mergers, with those companies then purchasing at least $700 million in Palantir software.
• According to Dorsey, there are concerns about Palantir's revenue growth, with anonymous Glassdoor reviews from Palantir salespeople suggesting a difficult sales environment and a hostile work environment.
• The company's SEC filings and public communications are often filled with jargon and buzzwords, making it difficult to gain a clear understanding of the company's operations and prospects, according to Dorsey.

Now Read: Cathie Wood Sells More Nvidia Shares After Rally: Here's How Many Shares Ark Funds Owns Of AI Giant

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: World Economic Forum on Flickr