Palantir Sponsors Their First Athlete

Continuing To Build Momentum In Ukraine

Palantir Stock Action

Palantir stock has stayed pretty consistent over the past few days - we got some low dips in the $13.80 range but they were eaten up, getting us back to $15. I’m still conflicted on Q2 expectations. I feel they should be low since most software spend happens in Q3-Q4, but with Karp’s comments about demand, Q2 could be decent than flat, justifying the valuation right now or not causing as massive dip. We’ll see where it goes from here but we haven’t seen any huge commercial partnerships for a month now — if the demand manifests itself in Q2 with US commercial, things can get fun. If not, I hope for decent consolidation within this range.

Palantir’s First Athlete Sponsorship

Palantir has just signed their first ever sponsorship with an individual athlete, and the implications of it go far beyond a traditional sponsorship. Palantir has sponsored sporting events before like F1, but they haven't picked an individual person to represent their brand... Today they did. Her name is Elina Svitolina, a Ukrainian tennis star. She reached career-high rankings of world No. 3 in singles and 108 in doubles. Svitolina has won 17 WTA Tour singles titles and finished runner-up three times.

THIS REALLY MATTERS.

The world's most "evil data spy company" is sponsoring an athlete at the highest levels of competitive sports -- the narrative about Palantir being some horrible company is starting to fall apart in front of us. FTX tried to sponsor Taylor swift for $100M. She rejected.

The money isn't a motivator at these levels, athlete's know their brand is worth way more than a few bucks...Elina would not have worked with Palantir if she didn't believe in them. Which begs the question...why does she believe in them?

In her words: "Palantir has been a friend to Ukraine since the Russian aggression began," said Elina Svitolina. "I am thankful for the work they are doing in helping my government continue its fight to peacefully exist within our own borders. Palantir is helping that cause and my decision to partner with them helps advance our humanitarian missions."

WHAT. A. QUOTE. The problem in the US & UK right now is the public still thinks Palantir is a company trying to steal your data. That's not what Ukraine and Ukrainian people think... They are seeing Palantir as the reason their country is still standing. As a beacon of sovereignty and freedom because of their software.

You can't buy that support. You have to earn it.

As Ukraine enters it's reconstruction era, it's important to remember that Palantir has been selected by the Ministry of Digital Transformation in Ukraine to:

- enhancing the digital capabilities for electronic public services providing the defense and reconstruction of Ukraine

- consolidating the efforts in the field of digitalization, digital innovations and integration of Ukraine into the international market

- promoting the implementation of projects with the support of the Armed Forces of Ukraine Palantir gave their software to Ukraine for free because they believed in saving democracy before generating a profit.

As a result, they built up so much genuine good will, that now the BIG MONEY flowing into Ukraine by the likes of Blackrock and JPMorgan to help fund reconstruction efforts is going to likely make it's way into Palantir's hands because who else would you trust to actually lead a digital transformation to build Ukraine up to where it used to be? Having a star tennis player agree to the sponsorship only continues to build good will in the country and establishes their brand with peace, freedom, and democracy within Ukraine and eventually throughout Europe.

If Ukraine, other Baltic states, and eventually NATO are seeing Palantir as a force truly for good, the narrative in places that are stopping Palantir from closing deals due to public perception will eventually change as well, and it's because Palantir's software is being used to actually change the world.

This sponsorship is way better than a Tom Brady or LeBron James since it fits with what their software was called to do at a moment's notice 18 months ago -- save a country from being destroyed.

JPMorgan Resurrects Partnership with Palantir in Pursuit of Data Dominance

JPMorgan Chase, one of the world's leading financial institutions, is resurrecting a previous, albeit contentious, relationship with Palantir Technologies, the big data and artificial intelligence firm. An unexpected job listing on the banking behemoth's website has rekindled this complex partnership, adding an intriguing twist to this on-again, off-again saga.

The job opening hints at the bank's search for an Executive Director for a training data platform. Crucially, the candidate is expected to be proficient with Palantir's Foundry software, a data integration and management platform. With a salary range between $175,000 to $275,000, this role is undoubtedly a key part in JPMorgan's strategic ambitions, one that potentially heralds a deeper relationship with Palantir.

Why does this matter to you, the average person? In essence, it signals a tectonic shift in the banking industry's operational methods. Banks like JPMorgan are starting to leverage big data and artificial intelligence capabilities to enhance their decision-making, improve customer service, and increase efficiency. A process that might have a profound effect on how financial transactions are conducted in the future.

Despite the inherent value that Palantir's technology offers, the bank's move comes as a surprise, given their turbulent history. A Bloomberg article published in April 2018 shed light on a controversial episode involving JPMorgan's utilization of Palantir's software for extensive surveillance of its employees. This incident caused a rift between the two companies, leading to JPMorgan severing ties with Palantir.

The misuse of Palantir's system was reportedly carried out by 'bad actors' within JPMorgan, who exploited vulnerabilities to access sensitive data, such as GPS locations and browser histories, of the bank's employees. While Palantir was not directly involved, the controversy had a significant impact on their relationship. It's worth noting that the software and its security protocols have evolved considerably since then, offering stronger data protection safeguards.

JPMorgan's move is not an isolated instance, but part of a broader trend in the banking industry. Financial institutions are increasingly seeking competitive advantages through technological innovation, using artificial intelligence and machine learning for tasks like fraud mitigation and risk management. Amid this backdrop, JPMorgan's rekindling of its relationship with Palantir can be seen as a strategic gambit to lead the charge in modernizing banking operations.

Given the scale of JPMorgan's operations, it's unlikely that Palantir's Foundry is being implemented across the entire organization immediately. However, the high-profile job posting suggests that key offices and divisions within the bank are likely testing the software. Success in these areas could potentially pave the way for broader deployment across the global JPMorgan network.

While the controversial past between the two organizations remains a historical footnote, JPMorgan’s move is reflective of its commitment to remain a dominant player in the rapidly changing financial landscape. A stronger alliance with Palantir potentially signals the willingness of the bank to put past grievances aside in the pursuit of data supremacy.

Did The Palantir SPACs Pay For Themselves?

I recently did an interview with a Swedish investor who had a very unique perspective on the SPACs - for example, did you know that almost 10% of revenue in Q1 (38M/525M) was from the SPACs? We had a discussion about what the SPACs actually did for Palantir - you can watch here.

That’s it for today - thank you for reading!