Latest news with #Foundry
Yahoo
5 hours ago
- Business
- Yahoo
Watch These Palantir Price Levels as Stock Hits Another All-Time High
Palantir shares hit a record high for the second straight day on Monday, as the AI-powered analytics software provider benefits from investor optimism about its expanding business with the federal government. The stock staged a volume-backed breakout above a pennant pattern in Friday's trading session, paving the way for higher prices this week. Bars pattern analysis projects a a bullish target of around $220 and indicates the current uptrend may last until early July. Investors should eye crucial support levels on Palantir's chart around $125, $97 and $ Technologies (PLTR) shares hit another record high on Monday, as the AI-powered analytics software provider benefits from investor optimism about its expanding business with the federal government. The government has integrated a Palantir product called Foundry into at least four agencies, including the Department of Homeland Security and the Health and Human Services Department, The New York Times reported Friday. Officials at the Social Security Administration and Internal Revenue Service have also had discussions with Palantir about buying its technology, the report said. Palantir shares rose 0.2% to close Monday at just above $132, after surging nearly 8% the previous session to a record high. The stock has doubled since hitting its early-April low and is up 75% since the start of the year, as investor enthusiasm for AI stocks has recovered lately and investors bet that Palantir will be a prime beneficiary of the government's efficiency drive. Below, we take a closer look at Palantir's chart and use technical analysis to point out crucial price levels worth watching out for. After reaching last month's peak, Palantir shares consolidated in a pennant pattern, indicating a continuation of the stock's longer-term uptrend. Indeed, the price staged a volume-backed breakout above the pattern in Friday's trading session, paving the way for higher prices this week. Moreover, while the relative strength index confirms bullish momentum, the indicator remains below overbought levels, providing ample room for the price to test higher prices. Let's apply bars pattern analysis to forecast where Palantir shares may be headed next and also identify crucial support levels to eye during potential pullbacks. To predict how the stock's trend may play out, investors can use bars pattern analysis, a technique that analyzes prior price action to forecast future directional movements. When applying the analysis to Palantir's chart, we extract the price bars comprising the trend higher that proceeded the pennant and overlay them from the pattern's breakout point. This projects a bullish target of around $220 and indicates the move higher may last until early July if it rhymes with the earlier uptrend. The first lower level to eye sits around $125. This area may provide support near the early-May high, which also closely aligns with the stock's prominent November peak. A breakdown below this level could see the shares retrace toward $97. The price may encounter buying interest at this location near a brief period of consolidation in mid-April sitting alongside the March swing high. Finally, further selling in Palantir shares may lead to a retest of lower support at the $83 level. Investors could seek entry points in this region near a trendline that links a range of corresponding trading activity on the chart between December and April. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
16 hours ago
- Business
- Miami Herald
Donald Trump's Reported Database Move Sparks Alarm: ‘Dystopian'
President Donald Trump allegedly plans on developing a database of Americans' private information, according to The New York Times. On Friday, the Times reported that the White House had contracted Colorado-based data analytics and technology firm Palantir, co-founded by longtime Trump backer Peter Thiel, for assistance in compiling a database of personal information on American citizens. Citing unnamed government officials and Palantir employees, the newspaper said that the company had been in talks with various government agencies regarding the project, including the Social Security Administration (SSA) and the Department of Education. Newsweek has reached out to Palantir and the White House via email for comment. Palantir has partnered with the U.S. government in the past, but the reported expansion of its work with the Trump administration has raised concerns that this could be the precursor to surveillance of Americans on a mass scale, and accusations online that the plan mimics the actions of authoritarian states and China's "Social Credit System." Palantir has been deepening its partnership with the government in recent years, its software being employed by the U.S. army and, last year, through a co-partnership with Microsoft delivering its AI-powered data analytics capabilities to the intelligence community. The company saw its government revenue grow 45 percent year-over-year in the first quarter of 2025 for a total of $373 million. The company's stock price is up over 80 percent since Trump took office in January, and was trading at $131.78 ahead of markets opening on Monday. As The New York Times reports, the company's software is already being employed within the Department of Homeland Security, Health and Human Services, and others. Both Wired and CNN reported previously that Palantir had been enlisted by the Department of Government Efficiency (DOGE) to help craft a database of undocumented immigrants and expedite deportations. The NYT found that the company is now speaking with various other agencies, including the Social Security Administration and the Internal Revenue Service, with a focus on its Foundry product, a comprehensive data integration and analytics platform. Officials who spoke to the outlet said that the adoption of Foundry across numerous agencies would allow for the administration to seamlessly create a unified database of information across the federal government. Trump signed an executive order in March calling for the elimination of barriers to intra-agency information sharing—"Information Silos"—which stated that "removing unnecessary barriers to federal employees accessing government data and promoting inter‑agency data sharing are important steps toward eliminating bureaucratic duplication and inefficiency." Jason Bassler, co-founder of the government accountability-focused outlet The Free Thought Project, posted to X, formerly Twitter: "No, this Palantir database isn't like the others. It will combine: Tax filings, Student debt, Social Security, Bank accounts, Medical claims, Immigration status. No previous database system has ever centralized this much personal info across various federal agencies." Other X users compared the reported plan to the Chinese Social Credit system, with one writing: "This database will be WEAPONIZED against us all once the Social Credit system is in place, and you can, and will become a target if you dare to dissent. Just like how China runs their society." "Trump just hired Palantir to create a master database to surveil and harass the American people," another wrote. This is as dystopian as it gets and must be rejected by all." Computer scientist and entrepreneur Paul Graham, following reports that Palantir was assisting the administration in tracking immigrants, wrote that the company was "building the infrastructure of the police state," and "help[ing] the U.S. government violate citizens' constitutional rights." Cody Venzke, senior policy counsel at the American Civil Liberties Union, told Wired in April: "The ultimate concern is a panopticon of a single federal database with everything that the government knows about every single person in this country. What we are seeing is likely the first step in creating that centralized dossier on everyone in this country." Palantir chief technology officer Shyam Sankar, during an earnings call in February, said: "I think DOGE is going to bring meritocracy and transparency to government, and that's exactly what our commercial business is. "I think the work that we've done in government, it's deeply operational, it's deeply valuable, and we're pretty excited about exceptional engineers getting in there under the hood and being able to see that for a change," he added. Neither Palantir nor the government have yet responded to The New York Times report. Related Articles Iran Unveils Next-Level Warfare Drones Amid Tensions With USSenators' Phone Data Has Been Sent to Law EnforcementNew Orleans Inmate Escape Update as Two Seen on Surveillance VideoThousands Sign RFK Jr. 'Autism Registry' Petition 2025 NEWSWEEK DIGITAL LLC.
Newsweek
17 hours ago
- Business
- Newsweek
Donald Trump's Reported Database Move Sparks Alarm: 'Dystopian'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump allegedly plans on developing a database of Americans' private information, according to The New York Times. On Friday, the Times reported that the White House had contracted Colorado-based data analytics and technology firm Palantir, co-founded by longtime Trump backer Peter Thiel, for assistance in compiling a database of personal information on American citizens. Citing unnamed government officials and Palantir employees, the newspaper said that the company had been in talks with various government agencies regarding the project, including the Social Security Administration (SSA) and the Department of Education. Newsweek has reached out to Palantir and the White House via email for comment. Why It Matters Palantir has partnered with the U.S. government in the past, but the reported expansion of its work with the Trump administration has raised concerns that this could be the precursor to surveillance of Americans on a mass scale, and accusations online that the plan mimics the actions of authoritarian states and China's "Social Credit System." What To Know Palantir has been deepening its partnership with the government in recent years, its software being employed by the U.S. army and, last year, through a co-partnership with Microsoft delivering its AI-powered data analytics capabilities to the intelligence community. The company saw its government revenue grow 45 percent year-over-year in the first quarter of 2025 for a total of $373 million. The company's stock price is up over 80 percent since Trump took office in January, and was trading at $131.78 ahead of markets opening on Monday. As The New York Times reports, the company's software is already being employed within the Department of Homeland Security, Health and Human Services, and others. Both Wired and CNN reported previously that Palantir had been enlisted by the Department of Government Efficiency (DOGE) to help craft a database of undocumented immigrants and expedite deportations. U.S. President Donald Trump at Arlington National Cemetery in Virginia, on May 26, 2025. Inset: The logo of Palantir on a smartphone screen. U.S. President Donald Trump at Arlington National Cemetery in Virginia, on May 26, 2025. Inset: The logo of Palantir on a smartphone screen. Saul Loeb / Photo illustration byThe NYT found that the company is now speaking with various other agencies, including the Social Security Administration and the Internal Revenue Service, with a focus on its Foundry product, a comprehensive data integration and analytics platform. Officials who spoke to the outlet said that the adoption of Foundry across numerous agencies would allow for the administration to seamlessly create a unified database of information across the federal government. Trump signed an executive order in March calling for the elimination of barriers to intra-agency information sharing—"Information Silos"—which stated that "removing unnecessary barriers to federal employees accessing government data and promoting inter‑agency data sharing are important steps toward eliminating bureaucratic duplication and inefficiency." What People Are Saying Jason Bassler, co-founder of the government accountability-focused outlet The Free Thought Project, posted to X, formerly Twitter: "No, this Palantir database isn't like the others. It will combine: Tax filings, Student debt, Social Security, Bank accounts, Medical claims, Immigration status. No previous database system has ever centralized this much personal info across various federal agencies." Other X users compared the reported plan to the Chinese Social Credit system, with one writing: "This database will be WEAPONIZED against us all once the Social Credit system is in place, and you can, and will become a target if you dare to dissent. Just like how China runs their society." "Trump just hired Palantir to create a master database to surveil and harass the American people," another wrote. This is as dystopian as it gets and must be rejected by all." Computer scientist and entrepreneur Paul Graham, following reports that Palantir was assisting the administration in tracking immigrants, wrote that the company was "building the infrastructure of the police state," and "help[ing] the U.S. government violate citizens' constitutional rights." Cody Venzke, senior policy counsel at the American Civil Liberties Union, told Wired in April: "The ultimate concern is a panopticon of a single federal database with everything that the government knows about every single person in this country. What we are seeing is likely the first step in creating that centralized dossier on everyone in this country." Palantir chief technology officer Shyam Sankar, during an earnings call in February, said: "I think DOGE is going to bring meritocracy and transparency to government, and that's exactly what our commercial business is. "I think the work that we've done in government, it's deeply operational, it's deeply valuable, and we're pretty excited about exceptional engineers getting in there under the hood and being able to see that for a change," he added. What Happens Next? Neither Palantir nor the government have yet responded to The New York Times report.
Indian Express
2 days ago
- Business
- Indian Express
US President Donald Trump taps Palantir to compile data on Americans
In March, President Donald Trump signed an executive order calling for the federal government to share data across agencies, raising questions over whether he might compile a master list of personal information on Americans that could give him untold surveillance power. Trump has not publicly talked about the effort since. But behind the scenes, officials have quietly put technological building blocks into place to enable his plan. In particular, they have turned to one company: Palantir, the data analysis and technology firm. The Trump administration has expanded Palantir's work across the federal government in recent months. The company has received more than $113 million in federal government spending since Trump took office, according to public records, including additional funds from existing contracts as well as new contracts with the Department of Homeland Security and the Pentagon. (This does not include a $795 million contract that the Department of Defense awarded the company last week, which has not been spent.) Representatives of Palantir are also speaking to at least two other agencies — the Social Security Administration and the Internal Revenue Service — about buying its technology, according to six government officials and Palantir employees with knowledge of the discussions. The push has put a key Palantir product called Foundry into at least four federal agencies, including DHS and the Health and Human Services Department. Widely adopting Foundry, which organizes and analyzes data, paves the way for Trump to easily merge information from different agencies, the government officials said. Creating detailed portraits of Americans based on government data is not just a pipe dream. The Trump administration has already sought access to hundreds of data points on citizens and others through government databases, including their bank account numbers, the amount of their student debt, their medical claims and any disability status. Trump could potentially use such information to advance his political agenda by policing immigrants and punishing critics, Democratic lawmakers and critics have said. Privacy advocates, student unions and labor rights organizations have filed lawsuits to block data access, questioning whether the government could weaponize people's personal information. Palantir's selection as a chief vendor for the project was driven by Elon Musk's Department of Government Efficiency, according to the government officials. At least three DOGE members formerly worked at Palantir, while two others had worked at companies funded by Peter Thiel, an investor and a founder of Palantir. Some current and former Palantir employees have been unnerved by the work. This month, 13 former employees signed a letter urging Palantir to stop its endeavors with Trump.
Hindustan Times
2 days ago
- Business
- Hindustan Times
‘Peter Thiel now owns Trump': New claims emerge amid Palantir's ImmigrationOS
Concerns are mounting in Washington and beyond as new social media claims suggest billionaire Peter Thiel may wield huge influence over former President Donald Trump, especially after announcing Palantir's ImmigrationOS. 'The One Man Who Holds Sway Over President Trump: Peter Thiel,' one X user posted. The New York Times reported that the Trump administration has tapped Palantir to carry out an executive order signed in March, which instructs federal agencies to share personal data on Americans. Since the order, the administration's public communication has been notably sparse. ALSO READ| Donald Trump's phone lock screen photo was leaked; netizens spot uncanny 9/11 link Palantir, founded by Thiel, has been granted over $113 million in federal contracts since Trump took office. Just last week, the company won a $795 million deal with the Department of Defence. Palantir is reportedly in talks with the Social Security Administration, the IRS, and several other government agencies to expand the use of its Foundry platform, an advanced data integration and analysis tool already deployed at the Department of Homeland Security, the Department of Health and Human Services, and elsewhere. Following Elon Musk's so-called Department of Government Efficiency's (DOGE) targeted data from agencies like the IRS, Medicare, and Selective Service, Thiel's influence here is impossible to miss. 'Essentially, you have one man, Peter Thiel, who could literally control the President; something Peter Thiel will never hear is, 'No,'' the X user added. Privacy groups, student unions, and labour organisations have taken legal action against this surveillance push. ALSO READ| Did Trump just mock France's Macron by offering marital advise after viral slap incident? Netizens say 'hillarious' 'These transnational organisations' ongoing campaigns of violence and terror in the United States and internationally are extraordinarily violent, vicious, and similarly threaten the American people,' ICE officials wrote in their justification for awarding Palantir a no-bid contract. 'Palantir has deep institutional knowledge of ICE operations.' The company stated it is 'already ingesting and processing data' across various agencies and is uniquely positioned to develop a prototype 'in less than six months.'
