Palantir To Help Ukraine's Army Resist Russian Invasion, CEO Meets Zelenskyy

Data analytics company Palantir Technologies, Inc. PLTR has pledged support to help war-torn Ukraine as it continues to fight the ongoing Russian invasion.

What Happened: Palantir CEO Alex Karp visited Ukraine on Thursday and met President Volodymyr Zelenskyy, vice premier and Minister of Digital Transformation Mykhailo Fedorov said in a tweet.

The two parties have agreed to open Palantir's office in Ukraine. 

The U.S. tech company promised to extend digital support to Ukraine's arm, saying in a tweet that it discussed the ongoing war in Ukraine and the pivotal role of software to security.

Related Link:  Why This Data Analytics Company's 'High Growth' Will Likely Continue

Why It's Important: Karp is the first corporate CEO to visit Ukraine since the onset of the war. Even before his visit, Palantir had declared its support for Ukraine and other eastern European nations affected by the war. 

"Every product and capability has been employed by our customers to support mission outcomes for Ukraine – and across Poland, Lithuania, and other nations to power refugee relief," the company said in its first-quarter business update. 

Palantir, co-founded in 2003 by billionaire investor Peter Thiel, provides data analytics to defense and intelligence agencies and governments to help them with national security, surveillance, and other things. It also serves corporate customers. 

Palantir's technology has been in use in Ukraine, the U.S., and some NATO countries since the beginning of the conflict three months ago, Bloomberg reported, citing a person familiar with the company. 

Price Action: Palantir closed Thursday's session 9.93% higher at $9.30, according to  Benzinga Pro data.

 

Posted In: Alex KarpPeter ThielRussia-Ukraine WarGovernmentNewsPoliticsTechMediaGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.