Palantir (PLTR) CEO Alex Karp pushed back against claims made in a recent New York Times article, which alleged that the AI software company had been involved in creating a database of personal information on Americans for the Trump administration. Speaking on CNBC, Karp firmly denied the accusation and stated that Palantir does not surveil American citizens. This interview comes after the company called the article “blatantly untrue” in an X post on June 3, where Palantir also went on to emphasize the strong security controls of its Foundry platform
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The New York Times had speculated that Palantir may have been selected to implement an executive order aimed at integrating federal data systems. This speculation comes as Palantir continues to win large government contracts, which have placed the company under increased public scrutiny. However, Palantir maintains that it operates within legal boundaries and does not engage in unlawful data collection.
In the same CNBC interview, Karp also talked about the global race for artificial intelligence leadership and stated that the U.S. must win in this area or risk falling behind China. Interestingly, he admitted that there are risks when it comes to AI, but stressed that it is still strategically important. Karp also praised U.S. companies for their flexibility, technical knowledge, and willingness to innovate, which are qualities that he believes Western allies will need to adopt if they want to remain competitive.
Is PLTR Stock a Buy?
Overall, analysts have a Hold consensus rating on PLTR stock based on three Buys, 11 Holds, and four Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average PLTR price target of $100.13 per share implies 19.6% downside risk.
