NEW YORK, June 20, 2026, 16:01 (EDT)
- U.S. stock markets closed Friday for Juneteenth and won’t open again until next week. Nasdaq’s holiday schedule shows June 19, 2026, as another market holiday.
- Palantir ended June 18 at $128.47, dropping 1.65% for the day but up roughly 0.4% from where it closed on June 12.
- France’s DGSI is moving to ChapsVision, selecting the company to take over from Palantir as its supplier over several years. Palantir said its current contract is still active.
Palantir Technologies Inc. goes into Monday’s open facing questions about a European contract dispute, with the shares holding steady over the week. AI spending is still the main story for investors in the stock.
Palantir faces the issue during a busy stretch. CEO Alex Karp called the company’s U.S. business “erupting” as first-quarter revenue jumped 85% to $1.63 billion. Palantir raised its full-year revenue outlook to $7.65 billion to $7.66 billion. Reuters
Stock indexes climbed Thursday ahead of the holiday, with the S&P 500 up 1.08% and the Nasdaq Composite adding 1.91%. The S&P software and services group slipped 0.7%. Broader gains didn’t do much for Palantir, which fell in that session. The move looked tied to the stock, not the sector.
France is behind the move. Prime Minister Sebastien Lecornu’s office said the DGSI, the country’s domestic intelligence agency, is shifting to ChapsVision. It’s part of a bigger effort to use local technology and cut dependence on outside digital firms.
ChapsVision is pitching itself as a cleaner, European option. President Silvano Sansoni told Reuters that it set up an independent ethics committee with veto power. “They have a right of veto,” he said. The company added that the panel can also pull existing contracts if customer objectives shift. Reuters
Palantir pushed back after the announcement. Josh Harris, the company’s executive vice president, told Le Monde, “You can’t do this on Instagram,” called it a serious issue, and said the announcement was dangerous for France. Pierre Lucotte, deputy director general at Palantir France, said Palantir “won’t leave France stranded between two solutions.” Le Monde.fr
Palantir shares barely moved. Traders are cool on the French contract, not seeing it as a game-changer for the bottom line. The issue traders are watching is whether more European states push for national-security data to stay local. That would make Palantir’s overseas government business tougher to value.
Palantir faces competition from more than just ChapsVision. UBS analyst Karl Keirstead kept his Buy rating and $200 price target on the stock, even with rising worry about new rivals from AI research labs, Investing.com said. The data and AI space is getting tighter: Reuters Breakingviews reported Databricks is looking for private funding, with a possible valuation up to $175 billion, putting it further ahead of Snowflake and pointing to how fierce the budget fight in data software is now. Investing.com
The bear case is clear. If governments in Europe start picking local providers faster, or if upstart AI and data players cut into Palantir on price, its valuation doesn’t give it much room to miss. Palantir flagged risks itself in its recent filing, citing demand, expanding with customers, long sales cycles, tough rollouts, AI-related issues and data access problems as reasons results might fall short.
For the week, the key will be if the stock stays above Thursday’s $125.01 low, not just the day-to-day moves. Investors are waiting to see if Paris, Palantir or competitors issue another statement. They’re also watching if software stocks can bounce back after missing the Nasdaq’s rally going into the long weekend.
