History of Palantir: From Post-9/11 Startup to Defense and AI Software Powerhouse

Palantir ($PLTR) was incorporated in 2003, with Peter Thiel, Alex Karp, Stephen Cohen, Joe Lonsdale, and Nathan Gettings as co-founders. Karp became CEO in 2004. Thiel's venture fund provided an initial $30 million, and the CIA's venture arm In-Q-Tel later invested about $2 million.
The company sells multi-year software licenses and subscriptions for its Gotham (government and defense), Foundry (commercial), and Artificial Intelligence Platform (AIP) products. It had 4,429 full-time employees and an estimated $11.2 billion in total remaining deal value as of Dec. 31, 2025.
Palantir went public through a direct listing on Sept. 30, 2020, opening at $10 per share. Shares have surged more than 1,000% since then. In 2025, the company generated $4.475 billion in revenue, up 56%, and $1.625 billion in net income, compared with about $462 million in 2024.
Recent milestones include the general availability of AIP Evolve on Sept. 8, 2026, and a collaboration with Nvidia ($NVDA) announced Sept. 10, 2026 to bring sovereign AI capabilities to critical supply chains.
Palantir has also drawn controversy over its roles in mass surveillance and immigration enforcement. Karp has said the company is here to "scare enemies and on occasion kill them."