- Record “otherworldly” growth: Palantir Technologies reported Q3 2025 revenue of nearly $1.2 billion – up 63% year-on-year – beating forecasts and prompting a full-year guidance raise to about $4.4 billion [1] [2]. CEO Alex Karp hailed it as “arguably the best results that any software company has ever delivered” [3].
- “Anti-woke” stance: On the earnings call, Karp proclaimed Palantir “the first company to be completely anti-woke,” praising employees for supporting free speech and “fighting for…the right side of…meritocracy [and] lethal technology” to deliver “venture-quality results” for “normal Americans” [4] [5].
- ICE and Israel controversy: Karp openly embraced Palantir’s contentious work with U.S. Immigration and Customs Enforcement (ICE) and its unwavering support for Israel’s military, saying “We power ICE…We’ve supported Israel” and insisting “I don’t know why this is all controversial” [6] [7]. He noted Palantir even took out a full-page NYT ad backing Israel and held its board meeting in Tel Aviv amid the Gaza conflict [8].
- Popcorn and critics: Triumphant over skeptics, Karp told those who doubted Palantir’s meteoric rise to “get some popcorn” and watch critics “crying” on TV [9]. Palantir’s stock has skyrocketed roughly 200% in 2025 amid the AI boom and government contract wins, vaulting its market cap to about $490 billion (a 25-fold increase in three years) [10]. Shares jumped on the earnings beat, but then slid ~7% as some analysts warned of “rally exhaustion” given the sky-high valuation (forward P/E near 280) [11] [12].
- Fentanyl “nuke” remark: In a fiery populist appeal, Karp railed against elite indifference to the opioid epidemic. “If fentanyl was killing 60,000 Yale grads instead of 60,000 working-class people, we’d be dropping a nuclear bomb on whoever was sending it from South America,” he said [13]. He argued an “open border” depresses wages for “average poor” Americans, positioning Palantir “on the side of the average American” who often gets “screwed” while “all the empathy goes to elite people” [14].
- Political pivot sparks debate: Karp’s vocal alignment with conservative priorities marks a sharp shift. (He even backed VP Kamala Harris in 2024 before pivoting right [15].) Palantir’s communications chief Lisa Gordon – a longtime Democrat – publicly called the company’s pro-Trump turn “concerning”, warning “a lot of the company is moving in [that] direction…It’s going to be challenging” [16] [17]. She cautioned Palantir could lose talent if employees aren’t ideologically aligned (e.g. with steadfast Israel support) [18].
- Trump-era ties: Under Karp, Palantir has eagerly courted the Trump administration’s agenda. The company recently secured a $10 billion U.S. Army AI contract and built “ImmigrationOS,” a $30 million data platform to help ICE streamline deportations [19]. Palantir even sponsored Trump’s military parade and donated to a White House renovation, underscoring its close government ties [20]. These bets appear to be paying off: U.S. government revenue jumped 52% year-on-year to $486 million in Q3 [21], and investors have bid Palantir’s stock up 165%+ year-to-date [22] on hopes of lucrative federal deals under a pro-defense regime [23].
- Balancing hype vs. value: Wall Street remains split on Palantir’s trajectory. Bulls tout its “otherworldly” growth and unique position in the AI race – Piper Sandler calls Palantir an “AI secular winner” and projects a staggering $24 billion annual revenue run-rate by 2032 [24]. The company boasts 80% gross margins and has just raised guidance as demand for its AI platforms surges [25] [26]. Wedbush analysts likewise bumped their price target to $160, citing Palantir’s expanding role in both federal and commercial AI markets [27].
- Bubble fears: Skeptics, however, note Palantir now trades at an eye-watering price-to-sales multiple and question if its growth can justify a nearly half-trillion valuation. Veteran investor Michael Burry (of “Big Short” fame) signaled a top in the AI frenzy by quietly buying puts against $912 million worth of Palantir shares – a bet that the stock will fall [28]. Some analysts see the post-earnings dip as a reality check, arguing Palantir’s rally may have gotten ahead of fundamentals despite the impressive results [29].
- Culture war meets tech boom: Karp’s latest shareholder letter went so far as to question multiculturalism, arguing it’s “a mistake to casually proclaim the equality of all cultures…Some [are] wondrous…Others destructive” [30]. This unabashed stance, coupled with Palantir’s outsized success, highlights a broader shift in Silicon Valley. Even as many tech CEOs tread carefully, Karp is “betting big on explicit political alignment” in Washington [31]. His tribal leadership style – keeping Palantir “cultish and unique” by hiring only “the right people” [32] – means the company’s identity is increasingly intertwined with his personal vision.
- Outlook: Palantir now straddles a paradoxical position – celebrated as a mission-critical AI/defense powerhouse with “accelerating” growth, yet enmeshed in political and ethical controversies. Karp insists the company’s aggressive strategy is righteous, declaring “we’re going to go very, very deep on our rightness” [33]. Going forward, investors and employees alike will be watching whether Palantir can sustain its breakneck expansion and sky-high valuation without alienating talent or provoking backlash. For now, Alex Karp’s bold gamble – blending blistering business performance with culture-war candor – has made Palantir one of the most talked-about (and valuable) tech companies of 2025. Whether that momentum is durable or a high-altitude firework is the $490 billion question.
Palantir CEO Alex Karp Called Out at AI Forum For Fueling the War Machine
References
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