Thought Leadership
The business of data analysis company Palantir, known for its cooperation with US security authorities, is growing rapidly thanks to artificial intelligence.
In the past quarter, turnover rose by 48% year-on-year to just over one billion dollars.
Growth was particularly strong in business with US companies: Revenues jumped by 93 percent to 306 million dollars. Palantir cites the example of real estate financier Fannie Mae using the company’s AI to detect fraud attempts. Revenue from government contracts in the USA rose by 53 percent to 426 million dollars (around 368 million euros). Palantir pointed to new deals with the US Army and the Space Force, among others.
The quarterly profit rose to 326.7 million dollars from 134.1 million a year ago. Palantir specializes in the analysis of large amounts of data and is a supplier of software used to analyse intelligence and military information, among other things.
dpa
