Latest news with #datamining
Yahoo
6 days ago
- Business
- Yahoo
The career rise of billionaire Alex Karp, Palantir's outspoken CEO
Alex Karp pursued a Ph.D. and invested on behalf of wealthy European clients before founding Palantir. The secretive and controversial big-data company went public in 2020 and just posted its first $1 billion quarter. Karp is an outspoken CEO who hasn't held back in defending the company against criticism. Alex Karp, longtime CEO of data mining company Palantir, has been taking a victory lap following a slew of blowout earnings and a climbing stock price in recent quarters. In its Q2 2025 earnings call, Palantir reported $1 billion in revenue for the first time. Following the blockbuster report, Palantir's stock, which is the best-performing in the S&P 500 this year, hit an all-time high. Karp, who has been CEO since 2004, is known as an unusual leader, even by Silicon Valley standards. He pursued a Ph.D. in philosophy before joining the startup and sometimes works from a barn. He and the company have courted controversy over the years, and he's known to be outspoken in defending the company's work with government agencies and the military, saying at a talk last year that he's proud "the death and pain that is brought to our enemies is mostly, not exclusively, brought by Palantir." Here's how the 57-year-old Karp got his start, took the helm of the secretive startup, and built it into a multi-billion-dollar company. Alex Karp grew up in Philadelphia. His parents were a pediatrician and an artist who Karp has described as hippies, saying they often took him to labor rights demonstrations and anti-Reagan protests when he was young. A 2018 Wall Street Journal profile called Karp a "self-described socialist." Karp got his bachelor's degree at Haverford College in Pennsylvania before attending law school at Stanford University. At Stanford, he was classmates with PayPal cofounder and venture capitalist Peter Thiel. After law school, Karp began working on a Ph.D. in philosophy at Goethe University in Frankfurt, Germany, studying under famed philosopher Jürgen Habermas. Karp is fluent in German and speaks French as well. Around the same time, an inheritance from his grandfather sparked an interest in investing. According to Forbes, he quickly became successful at it and created a London-based firm called Caedmon Group, named after his middle name, investing on behalf of high-net-worth clients. By 2003, Thiel, Karp's law school classmate, had already founded and sold PayPal to eBay for $1.5 billion. He decided to launch Palantir, along with Stanford computer science graduates Joe Lonsdale and Stephen Cohen, plus Nathan Gettings, a PayPal engineer. By 2004, Karp joined as CEO. Karp is known for being an eccentric leader. He often wears brightly colored athletic wear, keeps Tai Chi swords in his offices, and was known to practice martial arts on his Palantir cofounders in the office hallways. Karp is a fan of fitness and wellness who practices Qigong meditation and keeps vitamins and extra swim goggles stocked in his office. He told Forbes that the only time he isn't thinking about Palantir is "when I'm swimming, practicing Qigong or during sexual activity." Despite an estimated net worth of around $15.3 billion, Karp doesn't appear to spend lavishly. Karp has been known to sometimes work out of a barn in New Hampshire. He has never been married and told Forbes that the idea of starting a family gives him "hives." Palantir is also pretty secretive. Because of the company's contracts, many employees have government security clearances and receive five-figure bonuses for choosing to live close to the office, according to the Journal. Palantir has courted numerous controversies over the years. The company has been criticized for licensing its technology to law enforcement, which has used it for practices like predictive policing and tracking cars' routes using just their license plates. Palantir has also come under fire for its contracts with US Immigration and Customs Enforcement. The company provides software that helps the agency gather, store, and search through data on undocumented immigrants. After employees pressed Karp on ending the company's contracts with ICE, he denied that its technology was being used to separate migrant families. Karp has responded boastfully to criticism of the company's contracts with the military. "The death and pain that is brought to our enemies is mostly, not exclusively, brought by Palantir," he said at a talk in December 2024. "You may not agree with that and, bless you, don't work here," Karp said in 2023 of tech workers who have qualms about the company's data mining. The company was recently awarded a 10-year, $10 billion enterprise agreement with the Army. The company went public in 2020. It went public via a direct listing on the New York Stock Exchange in September 2020 at an estimated $20 billion valuation. Karp has frequently bragged about the company's performance and defended himself from critics. "This is a US-driven AI revolution that has taken full hold," he said last year. "The world will be divided between AI haves and have-nots. At Palantir, we plan to power the winners." Responding to criticisms of his leadership, he said, "Instead of going into every meeting saying, 'Oh, yes, Palantir is great, but their fearless leader is batshit crazy, and he might go off to his commune in New Hampshire,' whatever thing we're saying, it's now like, yes, the products are best, and we have great products." Now, he says the goal for the company is to grow revenue "while decreasing our number of people." "This is a crazy, efficient revolution," he told CNBC's Morgan Brennan in August 2025. "The goal is to get 10x revenue and have 3,600 people. We have now 4,100." Karp has also written a book. Released February 18, 2025, his book "The Technological Republic" argues that Silicon Valley has become complacent and lost its ambition. He cowrote the book with Nicholas Zamiska, Palantir's head of corporate affairs and legal counsel to the office of the CEO. He's a frequent guest at high-profile events and conferences. He's attended the annual Allen & Co. Sun Valley conference, a gathering of top tech and media leaders, in many previous years. Read the original article on Business Insider Sign in to access your portfolio
SBS Australia
6 days ago
- Business
- SBS Australia
Tech Council of Australia want copyright laws "overhauled" so AI models can mine Aussie data
Tech Council of Australia want copyright laws "overhauled" so AI models can mine Aussie data Published 6 August 2025, 10:02 am The federal Government has been advised against "over-regulating" AI. A new report is talking up significant economic benefit, but also admitting human jobs will be lost. The opposition says there needs to be stronger guardrails for its use, accusing tech companies of stealing Australian content.
Yahoo
7 days ago
- Business
- Yahoo
The tech company winning big from Trump's presidency
Alex Karp, the chief executive of Palantir Technologies, was in no mood to be humble as the US tech giant revealed its results on Monday. 'I have been cautioned to be a little modest about our bombastic numbers,' Karp said. Yet in a note to shareholders, he said the company's current growth rate was 'without precedent or comparison'. Palantir, which develops artificial intelligence (AI) and data mining technology, reported a 48pc jump in its quarterly revenues to a record $1bn (£753m). Dan Ives, a technology analyst, said Palantir had 'blown away' expectations. Growth has been delivered in part thanks to the company's close ties to Washington and the US defence establishment, with US government sales up 52pc. Since Donald Trump's election victory in November, Palantir's stock has risen by almost 300pc. 'This is the perfect time for Palantir,' Karp told investors on a call. Palantir and Karp, a one-time Democratic Party donor and supporter of Kamala Harris, are well-placed to benefit from the Trump White House's focus on defence, homeland security and securing its borders. Last week, the US army signed a deal with Palantir worth up to $10bn over the next decade. Its work with the US military includes developing AI-powered mobile command trucks and a high-tech targeting system called Maven, which can do the work of a regiment of soldiers with just 20 people. Founded in 2003 by Karp and Peter Thiel, the outspoken Republican donor, Palantir's tools can synthesise vast pools of data for analysis or business decision-making. Its early work included contracts with the CIA and other intelligence services. The business and its leaders have always been outspoken believers in America's role as the bulwark of Western civilisation. In a military context, for instance, Palantir can gather information from an army's databases, satellites and drones, then combine it with publicly available information to help commanders make tactical decisions. However, it is not just military and intelligence chiefs who covet Palantir's technology. Its services have also been hotly sought after by corporations and the public sector. It is also a major supplier to the NHS. One relationship that has been under intense recent scrutiny is Palantir's work with the US immigration and customs enforcement (Ice) agency. Its technology has been deployed on the US border and Palantir has worked with Ice since 2014, largely on tools to aid criminal investigations. A deal signed in 2022 to extend this work was worth $95m. Its border work most recently expanded with a $30m deal in April to build an 'ImmigrationOS'. This, according to a federal contract, will help track known criminals, identify people overstaying their visas, and track deportation data. 'Palantir is the only source that can provide the required capabilities and prototype of ImmigrationOS without causing unacceptable delays,' a US tender document says. The contract was single sourced, meaning it was not offered in a competitive process. The Trump White House has already claimed victory over immigration and illegal border crossings. In a post on X, the White House claimed to have achieved the 'first negative net migration for the first time in 50 years'. Trump has hailed a dramatic fall in illegal border crossings as evidence that his policies of tougher border security and mass deportations of immigrants, shackled in chains and handcuffs, are working. However, the president's uncompromising approach to the issue has led to criticism of Palantir by association. Its offices have been targeted by 'Purge Palantir' demonstrators, mirroring the earlier 'Tesla Takedown' protests against Elon Musk's car business. Former staff, meanwhile, signed an open letter claiming Palantir executives were enabling a 'dangerous expansions of executive power' through their work for Trump. The company has previously admitted employees have 'left over disagreements on our work, now and in the past, and we pride ourselves on a culture of fierce internal dialogue'. Karp has repeatedly dismissed criticism from the 'haters' (although in one rebuke, Palantir published an over 4,000 word response to an article in the New York Times that interrogated its US government deals). 'Palantir gets attacked just because we help make this country even better,' Karp told investors on Monday. 'The people who think we are wrong have to be a little jealous.' Palantir is not the only tech company benefiting from the second Trump presidency. The 'big beautiful bill' earmarked a total of $6bn for border security technology, including AI-powered surveillance towers. These are likely to be designed by Anduril, another US defence technology start-up backed by Thiel, Palantir's founder. In fact, according to news organisation The Intercept, Anduril is a shoo-in. The law states that the towers must be certified by the US border patrol to get the funding – and only Anduril's technology meets that requirement. The bill has also given Ice a budget larger than many global militaries, climbing from $8bn to almost $28bn. Palantir pointed out in its financial results that its commercial sales have also soared as businesses have sought to use tools originally designed for the world's security agencies. Its US business sales climbed 93pc. 'The growth rate of our business has accelerated radically, after years of investment on our part and derision by some,' Karp wrote in a letter to investors on Monday. 'The sceptics are admittedly fewer now, having been defanged and bent into a kind of submission. Yet we see no reason to pause, to relent, here.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
7 days ago
- Business
- Telegraph
The tech company winning big from Trump's presidency
Alex Karp, the chief executive of Palantir Technologies, was in no mood to be humble as the US tech giant revealed its results on Monday. 'I have been cautioned to be a little modest about our bombastic numbers,' Karp said. Yet in a note to shareholders, he said the company's current growth rate was 'without precedent or comparison'. Palantir, which develops artificial intelligence (AI) and data mining technology, reported a 48pc jump in its quarterly revenues to a record $1bn (£753m). Dan Ives, a technology analyst, said Palantir had 'blown away' expectations. Growth has been delivered in part thanks to the company's close ties to Washington and the US defence establishment, with US government sales up 52pc. Since Donald Trump's election victory in November, Palantir's stock has risen by almost 300pc. 'This is the perfect time for Palantir,' Karp told investors on a call. Palantir and Karp, a one-time Democratic Party donor and supporter of Kamala Harris, are well-placed to benefit from the Trump White House's focus on defence, homeland security and securing its borders. Last week, the US army signed a deal with Palantir worth up to $10bn over the next decade. Its work with the US military includes developing AI-powered mobile command trucks and a high-tech targeting system called Maven, which can do the work of a regiment of soldiers with just 20 people. Founded in 2003 by Karp and Peter Thiel, the outspoken Republican donor, Palantir's tools can synthesise vast pools of data for analysis or business decision-making. Its early work included contracts with the CIA and other intelligence services. The business and its leaders have always been outspoken believers in America's role as the bulwark of Western civilisation. In a military context, for instance, Palantir can gather information from an army's databases, satellites and drones, then combine it with publicly available information to help commanders make tactical decisions. However, it is not just military and intelligence chiefs who covet Palantir's technology. Its services have also been hotly sought after by corporations and the public sector. It is also a major supplier to the NHS. One relationship that has been under intense recent scrutiny is Palantir's work with the US immigration and customs enforcement (Ice) agency. Its technology has been deployed on the US border and Palantir has worked with Ice since 2014, largely on tools to aid criminal investigations. A deal signed in 2022 to extend this work was worth $95m. Its border work most recently expanded with a $30m deal in April to build an 'ImmigrationOS'. This, according to a federal contract, will help track known criminals, identify people overstaying their visas, and track deportation data. 'Palantir is the only source that can provide the required capabilities and prototype of ImmigrationOS without causing unacceptable delays,' a US tender document says. The contract was single sourced, meaning it was not offered in a competitive process. The Trump White House has already claimed victory over immigration and illegal border crossings. In a post on X, the White House claimed to have achieved the 'first negative net migration for the first time in 50 years'. Trump has hailed a dramatic fall in illegal border crossings as evidence that his policies of tougher border security and mass deportations of immigrants, shackled in chains and handcuffs, are working. However, the president's uncompromising approach to the issue has led to criticism of Palantir by association. Its offices have been targeted by 'Purge Palantir' demonstrators, mirroring the earlier 'Tesla Takedown' protests against Elon Musk's car business. Former staff, meanwhile, signed an open letter claiming Palantir executives were enabling a 'dangerous expansions of executive power' through their work for Trump. The company has previously admitted employees have 'left over disagreements on our work, now and in the past, and we pride ourselves on a culture of fierce internal dialogue'. Karp has repeatedly dismissed criticism from the 'haters' (although in one rebuke, Palantir published an over 4,000 word response to an article in the New York Times that interrogated its US government deals). 'Palantir gets attacked just because we help make this country even better,' Karp told investors on Monday. 'The people who think we are wrong have to be a little jealous.' Palantir is not the only tech company benefiting from the second Trump presidency. The 'big beautiful bill' earmarked a total of $6bn for border security technology, including AI-powered surveillance towers. These are likely to be designed by Anduril, another US defence technology start-up backed by Thiel, Palantir's founder. In fact, according to news organisation The Intercept, Anduril is a shoo-in. The law states that the towers must be certified by the US border patrol to get the funding – and only Anduril's technology meets that requirement. The bill has also given Ice a budget larger than many global militaries, climbing from $8bn to almost $28bn. Palantir pointed out in its financial results that its commercial sales have also soared as businesses have sought to use tools originally designed for the world's security agencies. Its US business sales climbed 93pc. 'The growth rate of our business has accelerated radically, after years of investment on our part and derision by some,' Karp wrote in a letter to investors on Monday. 'The sceptics are admittedly fewer now, having been defanged and bent into a kind of submission. Yet we see no reason to pause, to relent, here.'
The Guardian
7 days ago
- Business
- The Guardian
Should big tech be allowed to mine Australians' text and data to train AI? The Productivity Commission is considering it
The Productivity Commission is examining whether technology firms should be exempted from copyright rules that stop companies from mining text and data to train artificial intelligence models. The PC, in its interim report into 'harnessing data and the digital economy', used copyright as a case study for how Australia's existing regulatory framework could be adapted to manage the risks of artificial intelligence. A key recommendation from the interim report was that the federal government should conduct a sweeping review of regulations to plug potential gaps that could be exploited by 'bad actors' using AI. Scott Farquhar, the co-founder of software company Atlassian, last week called for an 'urgent' overhaul of Australia's copyright rules, arguing they were out of step with other comparable countries. Farquhar said creating exemptions for text and data mining to train large language models 'could unlock billions of dollars of foreign investment into Australia'. That suggestion has been rejected by the Copyright Agency, a not-for-profit organisation that collects and distributes royalties to thousands of copyright holders. The agency has argued instead for the government to create a new compensation scheme for creators of content used by tech companies to train their AI models. Sign up: AU Breaking News email Stephen King, one of two commissioners leading the PC's inquiry into harnessing the opportunities of the digital economy, said: 'Copyright is a great example of where Australia needs to sit back and ask: 'Are our laws fit for purpose with AI?'' 'The obvious harm is that an AI company may use copyright materials without providing appropriate compensation. On the other side, we want the development of AI-specific tools that use that copyrighted material,' King said. 'It may be possible to say, can we approach AI the same way we have approached copyright in other ways, through copyright collections. Music is played everywhere, so we have set up collecting societies that are authorised under our competition laws, and they act on behalf of singers, songwriters and creators.' King said the PC was asking for feedback on other options, before a final recommendation by the end of the year. 'We have a fair dealing exemption that doesn't include text and data mining, maybe that should be an exemption – as long as AI companies are gaining legal copies and they have paid for it.' In its third of five thematic reports, the commission said artificial intelligence could resuscitate Australia's moribund productivity. PC modelling showed that even the most conservative estimate was that AI would deliver a $116bn boost to the economy over the next decade. King said that this translated into a $4,300 kicker to the average Australian's real wage in 10 years' time, and that the actual benefits could be much larger. The commission advised against creating an overarching AI-specific piece of legislation, and warned that clumsy or excessive regulation risked stifling the technology's potentially transformative benefits. That message is likely to be well received by the government, with Andrew Leigh, the assistant minister for productivity, backing this approach. But King said the commission was not arguing for a minimalist approach to AI regulation. 'It's not light-touch at all. What we are saying is that AI is going to make it easier, cheaper and faster for bad actors to engage in harmful conduct. But most of that harmful conduct is already illegal,' he said. 'Let's work out where the harms are and see whether they are covered by existing law. And if they are, let's make sure the regulators have the resources and powers to stop the bad actors.' The PC's interim report also backed changing privacy rules to incorporate an outcomes-based approach, rather than a 'box-ticking' exercise where businesses 'comply with the letter of the law but not the spirit of it'. The commission said the government 'should support new pathways to allow individuals and businesses to access and share data that relates to them'.
