In a recent earnings call, executives at Palantir Technologies Inc PLTR revealed that the company’s AI technology is being used to support U.S. allies in their efforts in Ukraine and Israel.
What Happened: During the Q4 earnings call on Monday, Shyam Sankar, the Chief Technology Officer at Palantir, highlighted the company’s AI-enabled platforms’ significant role in advancing key U.S. government objectives in the Middle East.
“Our AI-enabled platforms are being leveraged maximally to support key US government goals in the Middle East. We have surged support to Israel to enable the Israeli Defense Forces and intelligence services to leverage Gaia, Gotham Foundry, an AIP to tackle a growing list of use cases from tactical command and control, visual intelligence, forensics, readiness, and production,” said Sankar.
“We continue to support Ukraine's efforts directly and through allies. When the bat signal goes up, Palantir's Gotham platform and its family of products have always answered the call.”
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He also emphasized the company’s commitment to supporting Ukraine directly and through its allies.
Meanwhile, Palantir’s CEO, Alex Karp, expressed his pride in the company’s swift involvement in operationally crucial activities in Israel following the Oct. 7 attack. He noted that Palantir is the only software company of its scale that has been engaged by Ukraine and Israel.
“I know of no other software company in the world that has been engaged by Ukraine and Israel, or in general, I'm not sure they buy software from any other company at our scale.”
Why It Matters: Palantir focuses on providing software, security, and artificial intelligence (AI) solutions. Governments across the globe, including defense and intelligence agencies, employ Palantir's software platforms to bolster their security and defense capabilities in various ways. Joe Lonsdale, co-founder of Palantir, also earlier argued for Israel's "right to self-defense" amid the ongoing war with Hamas. He also underscored the impact of artificial intelligence in enhancing naval operations and disabling drones.
Meanwhile, the U.S. Senate recently proposed a bipartisan aid package of $118.2 billion for Ukraine, Israel, and U.S. border security. This aid is intended to bolster the defense capabilities of the US allies amid ongoing geopolitical tensions.
On Monday, Israel vowed to achieve “complete victory” over Hamas in the Gaza Strip, further underscoring the significance of technological support in the region. Netanyahu, addressing a meeting of his Likud party faction at the Knesset, said, "Our goal is a complete victory over Hamas…We must not end the war before then. It will take time — months, not years."
Palantir on Monday reported fourth-quarter financial results after the market closed. The fourth-quarter revenue increased 20% year-over-year to $608 million, which beat the consensus estimate of $602.41 million, according to Benzinga Pro.
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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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