Palantir Technologies Inc. (PLTR)

Palantir builds software that helps organizations integrate their data, decisions, and operations at scale. Founded in 2003, it began by building software for the U.S. intelligence community to support counterterrorism investigations and operations, and later extended its work to commercial enterprises facing similar data challenges. Its platforms are organized around the Palantir Ontology, which maps data to meaningful context by combining the data, logic, and actions behind a decision. The company says its software can be ready in days, versus months or years for internal development efforts.

Palantir has four principal platforms. Gotham supports defense and intelligence missions, integrating data across domains and sensors to improve situational awareness and operational decision-making. Foundry is the foundational data operations platform, covering data management, logic authoring, analytics, and workflow and application development. The Artificial Intelligence Platform (AIP), deployed starting in 2023, connects third-party large language models to customer data and operations, with tools for building AI agents and automations, AI-enabled applications, and governance and evaluation of AI workflows. Apollo is a cloud-agnostic continuous delivery platform that coordinates upgrades, security updates, and configurations, and lets software run in cloud, on-premises, or rugged environments. The platforms can be bundled, and the company also offers AIP bootcamps and a limited Developer Tier for Foundry and AIP.

At December 31, 2025, Palantir had 954 customers across government and commercial sectors. Of its $4.5 billion in 2025 revenue, 54% came from government customers and 46% from commercial customers; 74% came from the United States and 26% from abroad. Average trailing twelve-month revenue from its top twenty customers was $93.9 million, up from $64.6 million a year earlier. Users include defense and intelligence personnel, utility and oil and gas operators, automotive manufacturing workers, pharmaceutical researchers, supply-chain managers, and public health administrators. The company targets large, complex, hard-to-execute opportunities at major institutions and is developing industry operating systems in areas such as airline, space, shipbuilding, insurance, healthcare, telecommunications, and automotive.

Palantir sells through an account-based sales force and embeds with customers. It also works through cloud-provider and channel partnerships and joint ventures, including a strategic partnership with Fujitsu through Palantir Technologies Japan KK. Its research and development focuses on new platform features, including deploying software and models at the edge. The company has a Privacy and Civil Liberties Engineering team and offers capabilities such as granular access controls, auditability, data provenance, and AI governance. Its main competition is customers' own internal development efforts, built from custom solutions, consultants, IT services firms, and packaged or open source software. It also competes with large enterprise software companies, government contractors, system integrators, and emerging and established entrants. Competitive factors include platform capability, security and privacy, ease of deployment, innovation, pricing, customer experience, and brand reputation.