Latest news with #ImmigrationOS
Hindustan Times
7 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.'
Entrepreneur
13-05-2025
- Business
- Entrepreneur
Palantir's Latest Deal Could Put a Freeze on Its Stock Price
An expanded partnership with ICE highlights one reason many investors object to owning PLTR stock, but the company's valuation may be a stronger headwind. This story originally appeared on MarketBeat In its most recent earnings report, Palantir Technologies Inc. (NASDAQ: PLTR) announced that it had signed 139 deals valued at least $1 million. That wasn't surprising to long-term investors. In its last quarter, Palantir seemed to sign a new deal every other day. [content-module:CompanyOverview|NASDAQ:PLTR] That momentum has continued since the earnings report. However, one of Palantir's latest contract wins focuses on why many investors find the company's stock hard to stomach. And this reason has nothing to do with its premium valuation. Palantir and the U.S. Immigration and Customs Enforcement (ICE) agency announced a new $30 million deal. The deal will help expand ICE's ability to track individuals accused of violent crimes as well as individuals who have stayed in the country after their visas have expired. Palantir has been working with ICE since 2014. In fact, its partnership with the agency is one reason many investors object to owning the company's stock. If that's the case, this expansion of the partnership won't do much to encourage them. Critics Fear the Growth of a Surveillance State Under the agreement, Palantir is building an upgraded system for ICE, called 'ImmigrationOS.' The new system will pull all the information that ICE agents need, from identification through arrest and deportation. The goal, as written into the contract, is to save ICE time and reduce costs while increasing the number of deportations to meet the Trump administration's goal of removing one million people from the U.S. in 2025. The system can identify individuals even before ICE officials receive an official deportation order, enabling quiet tracking of those instructed to 'self-deport.' It also aggregates data from multiple sources, which can help agents identify potential visa violations and make arrests. The approach has raised concerns from advocacy groups and legal experts about the potential for wrongful arrests, deportations, and civil liberties violations. Leaked internal documents show that Palantir is aware of certain risks and limitations beyond its control. Nonetheless, the company is proceeding with the project, which is scheduled for delivery by the end of September. Supporters Know What They Own Many current Palantir shareholders have held the stock since its public debut in 2020, when the company's operations were less transparent than they are today. Despite changes in visibility, the company's stated mission and values have remained consistent. Palantir positions itself as a supporter of Western democratic institutions and a strong U.S. defense sector enhanced by advanced technology. This stance appears to align with the priorities of the U.S. Department of Defense, which is expected to maintain Palantir's existing contracts even as it seeks to reduce waste and inefficiency. When asked about potential cuts to its government contracts on the company's most recent earnings call, co-founder and chief executive officer Alex Karp noted that Palantir 'does exceptionally well when things are pen-tested.' Adding that the company likes it when there is pressure on the system. That makes sense because Palantir is about making operations more efficient, including controversial ones like those carried out by ICE. Volatility Is the Only Certainty For now, this story may not get much attention from retail investors. Since the company's earnings report, more attention has been paid to the company's valuation. With that in mind, some analysts are concerned about a lack of international growth in the company's business. However, the company's recent deal with NATO may be the first step in overcoming these objections. The announcement of, at least, the framework of a trade deal with China is sending technology stocks like Palantir sharply higher. Temporarily, that may keep the stock moving higher. However, in early trading on May 12, PLTR stock was already showing signs of hitting resistance. That makes sense because PLTR stock is not really a tariff trade. That means investors may be setting a higher bar for the stock. If that bar includes weaker institutional sentiment due to the ICE deal, investors should expect volatility in the coming months. [content-module:TradingView|NASDAQ:PLTR] Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list. They believe these five stocks are the five best companies for investors to buy now... See The Five Stocks Here
Int'l Business Times
07-05-2025
- Automotive
- Int'l Business Times
CBP Pushes for Tech to Capture Faces of Everyone Crossing the Border by Car
U.S. Customs and Border Protection (CBP) is seeking proposals from tech vendors for a facial recognition system that would capture and identify every person inside a vehicle crossing the border, including those in back seats. The goal is to match each face to existing travel or identity documents, according to a Request for Information (RFI) posted last week. CBP already uses facial recognition at air, sea, and land pedestrian ports of entry, but extending the system to vehicles has proven technically challenging, as Wired explained in a sprawling report on Tuesday . Environmental obstacles, seating arrangements, and human behavior hinder the agency's ability to consistently capture usable images of all passengers. A 152-day test at the Anzalduas border crossing in Texas, cited by the report as an example, revealed that the current system captured images of all occupants in only 76% of vehicles. Of those, only 81% met facial validation requirements to match with identity documents. "The current system is one-to-one facial recognition," said Dave Maass, director of investigations at the Electronic Frontier Foundation to Wired. "The risk is the system failing to recognize that someone matches their own documents." This differs from one-to-many facial recognition systems, often used in policing, which carry the risk of false matches. CBP has not specified whether the capture issues stem from the image-gathering cameras or the software performing the matching, as Maass noted, "We don't know what racial disparities, gender disparities, etc., come up with these systems." CBP's call for enhanced surveillance technology follows the recent disclosure that Immigration and Customs Enforcement (ICE) has contracted Palantir Technologies to build a $30 million platform called ImmigrationOS, designed to enable near real-time tracking and analysis of undocumented migrants, particularly those who self-deport. According to ICE, the platform will integrate biographic, biometric, and behavioral data from various sources to identify individuals based on factors including country of origin, visa status, tattoos, and vehicle movements. The ICE contract was awarded without competitive bidding and justified as essential to addressing threats from transnational criminal organizations. Palantir, founded by Peter Thiel, has longstanding ties to U.S. immigration enforcement. ImmigrationOS builds on the case management system Palantir has provided to ICE since 2014, which already integrates a wide range of personal data, including from covert tracking devices and license plate readers. Though driven by the current administration's enforcement goals, Maass emphasized that CBP's surveillance expansion is not something unique to the current Trump administration.: "CBP surveillance strategy carries over from administration to administration—it always falls short, it always has vendor issues and contracting issues and waste issues and abuse issues. What changes is often the rhetoric and the theater around it" Originally published on Latin Times
Yahoo
06-05-2025
- Business
- Yahoo
Palantir praises DOGE cuts and compares the US government to 'fine-marbled wagyu'
Palantir Technologies executives praised DOGE during their earnings call after strong results. The company beat earnings expectations and raised its full-year revenue outlook. Palantir emphasized meritocracy, launching a fellowship for non-college enrollees. Executives at Palantir Technologies praised DOGE in their latest earnings call on Monday as the company reported its first-quarter earnings. "This is the right thing for the country — like, we have way too much spend on things that do not work," said Shyam Sankar, CTO and executive vice president of Palantir, when asked if DOGE cuts will impact contracts. "The government has started to resemble a fine-marbled wagyu — the fake projects that do not deliver and will never deliver crowd out and suffocate the things that could actually be excellent, so we welcome DOGE," Sankar added. Sanker's sentiments were echoed by Alex Karp, CEO of Palantir, who later said on the earnings call that there needs to be "pressure on the system" to "root out fraud, waste, and abuse and to pen test systems to see if they create more value." Their comments came after the AI software and defense technologies company delivered earnings that beat expectations on Monday and hiked its full-year revenue outlook to between $3.89 billion and $3.90 billion. Palantir is up 64% this year, mostly benefiting from its key defense contracts. A government record recently viewed by Business Insider's Rosemarie Ho shows that Immigration and Customs Enforcement signed a $30 million contract with Palantir for software enhancements to its Immigration Lifecycle Operating System, or ImmigrationOS. ICE told BI at the time that it was a modification of an existing contract. This also isn't the first time Karp has praised DOGE. In an earnings call in February, Karp said that DOGE is a "revolution" and "some people are going to get their heads cut off." "We love disruption, and whatever is good for America will be good for Americans and very good for Palantir," said Karp. Palantir was cofounded by its current chairman, Peter Thiel, who, alongside Elon Musk, is known as part of the "PayPal Mafia." In a Monday letter to shareholders that quotes from St. Augustine, President Richard Nixon, and the New Testament, Karp also wrote that the company's results are "indicative of a revolution" and that it could not have been achieved if the company had "submitted to the conventional managerial model in American corporate life." "There is no question that both cultures and companies," wrote Karp, "including the one we have built, must over a long period of time be judged 'by their fruits.' Matt. 7:16." Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Palantir praises DOGE cuts and compares the US government to 'fine-marbled wagyu'
Palantir Technologies executives praised DOGE during their earnings call after strong results. The company beat earnings expectations and raised its full-year revenue outlook. Palantir emphasized meritocracy, launching a fellowship for non-college enrollees. Executives at Palantir Technologies praised DOGE in their latest earnings call on Monday as the company reported its first-quarter earnings. "This is the right thing for the country — like, we have way too much spend on things that do not work," said Shyam Sankar, CTO and executive vice president of Palantir, when asked if DOGE cuts will impact contracts. "The government has started to resemble a fine-marbled wagyu — the fake projects that do not deliver and will never deliver crowd out and suffocate the things that could actually be excellent, so we welcome DOGE," Sankar added. Sanker's sentiments were echoed by Alex Karp, CEO of Palantir, who later said on the earnings call that there needs to be "pressure on the system" to "root out fraud, waste, and abuse and to pen test systems to see if they create more value." Their comments came after the AI software and defense technologies company delivered earnings that beat expectations on Monday and hiked its full-year revenue outlook to between $3.89 billion and $3.90 billion. Palantir is up 64% this year, mostly benefiting from its key defense contracts. A government record recently viewed by Business Insider's Rosemarie Ho shows that Immigration and Customs Enforcement signed a $30 million contract with Palantir for software enhancements to its Immigration Lifecycle Operating System, or ImmigrationOS. ICE told BI at the time that it was a modification of an existing contract. This also isn't the first time Karp has praised DOGE. In an earnings call in February, Karp said that DOGE is a "revolution" and "some people are going to get their heads cut off." "We love disruption, and whatever is good for America will be good for Americans and very good for Palantir," said Karp. Palantir was cofounded by its current chairman, Peter Thiel, who, alongside Elon Musk, is known as part of the "PayPal Mafia." In a Monday letter to shareholders that quotes from St. Augustine, President Richard Nixon, and the New Testament, Karp also wrote that the company's results are "indicative of a revolution" and that it could not have been achieved if the company had "submitted to the conventional managerial model in American corporate life." "There is no question that both cultures and companies," wrote Karp, "including the one we have built, must over a long period of time be judged 'by their fruits.' Matt. 7:16." Read the original article on Business Insider Sign in to access your portfolio
