‘Making Money’ host Charles Payne discusses the current state of global trade and The Fitz-Gerald Group principal Keith Fitz-Gerald analyzes Palantir on ‘Making Money.’
When asked whether the Elon Musk-led Department of Government Efficiency (DOGE) would serve as roadblocks to their business, Palantir’s CEO and chief technology officer were overwhelmingly optimistic about the check-and-balance foundation that DOGE is laying.
“Palantir’s real competition is a lack of accountability in government, these forever software projects that cost an insane amount that don’t actually deliver results. They’re sacred cows of the deep state,” CTO Shyam Sankar said in the fourth-quarter earnings webcast on Tuesday.
“And I think DOGE is going to bring meritocracy and transparency to government. And that’s exactly what our commercial business is,” he continued. “The commercial market is meritocratic and transparent, and you see the results that we have in that sort of environment. And that’s the basis of our optimism around this.”
The artificial intelligence-enabled data analytics firm reached its own milestone this week, as investors reacted positively to Palantir’s Q4 earnings and caused shares to surge as high as 28% before settling at a 24% gain by market close.
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Forbes reported that Palantir’s market capitalization jumped up to $240 billion, a company record, making it more valuable than popular names like McDonald’s, American Express and Disney.
Top Palantir executives reportedly have no fears about risks DOGE could pose to its government contract-led business. (Getty Images)
More than half of Palantir’s business comes from government contracts. During an appearance on FOX Business in December, its CEO Alex Karp shared his wholehearted support for DOGE, adding that there’s no “better person” than Musk to lead it.
Palantir CEO Alex Karp opens up about the company’s success and weighs in on DOGE on ‘The Claman Countdown.’
“We love disruption, and whatever is good for America will be good for Americans and very good for Palantir,” Karp said on Tuesday’s webcast. “Disruption, [at] the end of the day, exposes things that aren’t working. There’ll be ups and downs. There’s a revolution. Some people can get their heads cut off.”
“We’re expecting to see really unexpected things and to win, basically, that’s what we’re going to do,” he expanded. “And we’re pretty optimistic about the U.S. environment.”
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Palantir CTO Shyam Sankar warns that if the United States entered a war with a near-peer adversary, our weapons stockpile would last weeks — not years — on ‘The Claman Countdown.’
“The work that we’ve done in government, it’s deeply operational, deeply valuable, and we’re pretty excited about exceptional engineers getting in there under the hood and being able to see that for a change,” Sankar also said.
As of Wednesday’s opening bell, Palantir stock was down slightly from its all-time Tuesday high of $105.79.
