Palantir up 1,700% since NYSE debut five years ago. How it got there

When Palantir He hit the stock market in September 2020, there was a lot to go wrong. Covid was sweeping my spanda worldwide, the society was locked, and the markets changed.

Meanwhile, Palantir was operating with a loss while dealing with the criticisms of the US customs and migration, especially in the US. And the company was directly opened to the public with a list instead of a traditional public offering.

Palantir with an opening price of $ 10 per share, fell from a private market summit of $ 20.4 billion in 2015, worth $ 16.5 billion.

“This was the beginning of pandema, nobody knew what happened.” He said. He continued: “The stock market was not tear, not everyone was trying to open up to the public and we decided to open up to the public as quickly as possible.”

Five years later, he palantir, he reached heights that would be difficult to force even the biggest bulls.

The stock price increased by more than 1,700%and closed at $ 182.42 on Tuesday for a market value of over $ 432 billion. This is among the 20 most valuable US companies and Cisco And IBM. Palantir last year, joined the S&P 500 and instead American Airlines.

The three -month income has exceeded $ 1 billion for the first time last quarter, and than the analysts who participated in the survey by LSEG, about six times more than 2019. The company’s squad grew from 125 in the first half of 849 from 2020 at the end of June. During this time Palantir added 1,500 full -time employees.

In addition to important investors such as Peter Thiel and Joe Lrsdale, CEO Alex Karp, who founded the company in 2003, was applying optimism on the first day of Palantir’s public market.

Frankfurt, the University of Goethe in Germany in neoclassical social theory of Stanford and doctoral degree KARP, CNBC’e listing day interview “We have reached a base where our company is very important,” he said. “Being in the public sphere will help us with our customers and help us grow.”

Since then, the dizzying rise, especially for companies of this size, is confused to Wall Street, who is not familiar with such floors.

Palantir is traded for 226 times earnings in the next 12 months, with a prominent income of over 80. Even these numbers are dwarf TeslaNext year it earns 194 times forward -looking earnings and 14 times income.

In a report last month, Left, a short vendor called Andrew Left from Citron Research, called Palantir, is a short vendor called “breaking from the foundation and analysis”. Compared to Openai’s valuation of $ 500 billion, he said that if the same income as Palantir’s artificial intelligence attempt has been evaluated, it should be priced less than $ 40 or less than one quarter.

“Karp and his team must be proud. But for investors, the discipline comes into play.” “Comparison is the enemy of happiness and when it is measured against real AI leaders, Palantir’s price reflects success beyond its foundations.”

Karp, which does not stay away from a dispute, recently said to the detectors “if they don’t like the price” “to come out”.

“We will be the world’s most important software company in the world and people will realize what it is valued for a long time.” He said.

Palantir refused to make Karp usable for an interview.

Valuation is not the only source of discussion. Critics also caused concerns about how Palantir’s vehicles were used by the likes of ICE and other state institutions.

Palantir was founded as a response to national security threats after September 11th. The company has developed heavy software to help customers to compile and analyze large data sets. On websitePalantir says that he has been in common with the US army since 2008, and was placed with users to design and distribute modern Mission Essential Software solutions. “

Federal Documents As of April, ICE paid $ 30 million to provide Palantir to the people who settled on their own “real -time visibility”. Earlier this year, New York Times Report Palantir helps the Trump administration to collect data about Americans.

One Blog postPalantir described the report as “reckless and irresponsible”. Karp, in June in his interview with CNBC Palantir’in “the Americans did not watch,” he said.

The company also encountered recoil to provide technology. Ukraine and Israeli soldiers.

One Letter to investors Before the direct list, Karp said that the Silicon Valley shared the “engineering elite”, “how the society needs to be organized or what justice requires” and the company “less and less than the values ​​and commitments of the technology sector”.

Although he was a prominent artist in the market in the last five years, long -term investors had to take off some dark days along the way.

At the end of 2020, Palantir’s shares rose to $ 23.55, a gain of approximately 136%. Karp’s letter directly in front of the list, in times of crisis, “effective software may be necessary for an organization to survive” claimed.

Skepticism began to build in the second half of 2021. At the beginning of the following year, increasing interest rates and rising inflation investors pushed risky securities and safer assets such as bonds. Palantir shares lost two -thirds of their value in 2022 and closed the year to $ 6.42 well below the direct listing price.

However, in November of that year, the ChatGPT and the technology industry redefine and redefine a new AI period introduced.

In April 2023, Palantir launched the AI ​​Platform AIIP. It was designed to help integrate large language models safely while dealing with sensitive data, making Palantir’s technology attract and analyze information much faster and more efficient.

The company connected most of its enlargement in the commercial market to AIP. The government still constitutes most of its income, but attracted corporate customers such as Palantir Wendy’s and American Airlines.

Glazer, in August, the last earnings call, the total contract value of the quarter reservations increased by 185% to $ 1.1 billion, and US commercial income increased by 93% compared to the previous year, he said.

“AIP continues to increase the existing customer expansion and new customer transformations in the US,” Glazer said. He said.

The company’s quoted customer Auto Supplier Lear and recently Five -year partnership Between the two. Palantir said that Lear used AIP to help AIP for help to “managing tariff exposures proactively, automating more than one administrative workflow and dynamically balanced production lines”.

Palantir’s shares increased by 341% last year and increased by 141% in 2025.

Artificial intelligence also benefits a lot in the government.

In 2024, Palantir made a contract to create AI -supported mobile ground stations that can collect data for soldiers using space sensors. In May of this year, the Pentagon increased the company’s total ceiling to $ 1.3 billion for the Maven Smart Systems agreement for AI capabilities.

Palantir’s chief of technology and US government business President Akash Jain said in an interview that AI poses a series of new risks and forced the government to rethink how it uses commercial technologies.

“We are perfectly positioned for growth,” he said.

WRISTWATCH: Cramer in Palantir