United Kingdom’s Prime Minister Keir Starmer visited Palantir Technologies Inc.’s PLTR DC office on Thursday. His visit comes as the UK and the U.S. strengthen cooperation on artificial intelligence-driven defense technology amid Russia's ongoing war in Ukraine.
What Happened: The visit, revealed in a social media post by Palantir’s strategic engagement executive Eliano Younes, came the same day Starmer held a joint news conference with President Donald Trump where both leaders emphasized increased defense spending.
“We welcomed a very special guest at Palantir’s DC office today,” Younes wrote on X, showing Starmer’s meeting with Palantir co-founder and CEO Alex Karp.
During the subsequent news conference with Trump, Starmer noted the UK had adopted its “biggest sustained increase in defense spending since the Cold War,” responding to security challenges highlighted by the Ukraine conflict.
Trump praised the UK’s military investment while expressing grave concerns about casualties in Ukraine. “Thousands of people, young vibrant people died, and we want to stop that,” Trump said, adding that increased NATO defense spending of “4% or 5% of GDP would be appropriate” for many partners.
Why It Matters: The high-profile meeting underscores Palantir’s growing significance in national security. The data analytics firm recently reported blockbuster fourth-quarter results with a 36% year-over-year revenue increase to $827.52 million. The company secured $1.8 billion in total contract value, including 32 deals exceeding $10 million each.
Wedbush Securities Managing Director Dan Ives described Palantir’s recent earnings as showing “massive AIP growth” and suggested the company could become “the next Oracle” with the potential for reaching trillion-dollar market capitalization.
Price Action: PLTR’s stock fell 5.08% to close at $84.77 on Thursday. However, the share has increased 245.58% over the last year and is up 12.74% so far this year, according to data from Benzinga Pro.
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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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