Palantir: Turning Data into Decisions

Since its founding in 2003, Palantir Technologies has become one of the most influential companies in data analytics. Its platforms are used by governments and enterprises to turn complex information into clear, actionable insights. This article explores Palantir’s evolution, its technological breakthroughs, its role in global initiatives, and how figures like Peter Thiel and Alex Karp have shaped its trajectory.

Key insights

• Data driving decisions: Palantir has developed into a major force in data analytics since its founding in 2003.

• Business momentum: The company has increased revenue at a 30% CAGR since 2018 and achieved profitability in 2023.

• Gotham, Foundry, Apollo, and AIP: Through its four main software platforms, Palantir serves both government and commercial customers.

Introduction to Palantir

Palantir Technologies was founded in 2003 by Peter Thiel, Alex Karp, Stephen Cohen, Joe Lonsdale, and Nathan Gettings. The name, borrowed from the “seeing-stones” in J.R.R. Tolkien’s Lord of the Rings, reflected the company’s ambition to create technology capable of bringing clarity to overwhelming amounts of information.

Early funding came from Thiel and seed support from In-Q-Tel, the CIA’s venture capital arm, which gave Palantir both financial backing and credibility in Washington. Those relationships proved critical as the company secured its first contracts with U.S. intelligence and defense agencies. In its early years, Palantir focused almost exclusively on national security work, with its Gotham platform becoming a central tool for counterterrorism and intelligence operations.

Palantir’s early focus on defense and intelligence work laid the foundation for what would become a much broader enterprise. The company soon recognized that the same ability to unify and interpret complex data had applications far beyond national security. Over the years, this vision expanded into a suite of platforms: Gotham, Foundry, Apollo, and most recently its Artificial Intelligence Platform (AIP), that now serve customers across both government and commercial sectors.

So, what does Palantir do exactly?

Palantir today can be described as a global enterprise software company focused on integrating data, decisions, and operations at scale. Founded in 2003 to serve the U.S. intelligence community, it has since expanded well beyond government contracts to become a major player in commercial data integration and AI-driven software.

In 2024, Palantir generated roughly $2.9 billion in revenue, with about 55 percent coming from government clients and 45 percent from commercial enterprises. The U.S. remains its largest market, accounting for two-thirds of revenue, while international customers make up the rest.

Gotham, Foundry, Apollo, and AIP

Palantir’s business is built around four principal software platforms.

• Gotham, the company’s original offering, remains widely used by defense and intelligence agencies for integrating disparate data sources and generating operational insights. It has been deployed in numerous classified missions, including high-stakes special operations, where the ability to piece together complex intelligence from fragmented data proved decisive.

• Foundry has emerged as the commercial counterpart, acting as a central operating system that allows enterprises to break down silos and unify their data into a single framework. Notable customers include major corporations such as Airbus, which uses Foundry for aerospace manufacturing processes, and some of the largest healthcare organizations and financial institutions in the world.

• Apollo, launched as a commercial product in 2021, provides the control layer that ensures Palantir’s platforms run reliably across different environments, coordinating software deployment, security updates, and operational stability.

• Most recently, the company introduced its Artificial Intelligence Platform, or AIP, which enables organizations to connect large language models and other AI tools directly to their data and workflows, operationalizing AI across both government and commercial settings.

Together, these platforms give Palantir the ability to deliver end-to-end solutions for data integration, analysis, and decision-making.

Palantir in numbers

After years of heavy investment, Palantir has entered a period of sustained profitability. In 2023, the company reached an inflection point, from which it has continued to strengthen, most recently posting an EBIT of $310 million in 2024, representing a margin of 11%.

A visualization of Palantir's revenue and EBIT since 2018.

Conclusion

Palantir has established itself as a global leader in data analytics since its founding in 2003. Its platforms are now embedded across governments and industries, driving valuable decisions at scale. With strong profitability and growing adoption, Palantir will continue to shape how organizations turn data into meaningful action.