Palantir grew from a government-focused software startup into a major AI company serving defence, intelligence and commercial customers. 

Its Army Vantage platform connects thousands of datasets and supports AI-enabled workflows for personnel, logistics and operational decision-making.

Palantir’s US government revenue reached $809 million in Q2 2026, marking a 90% year-over-year increase. 

Peter Thiel, the man who co-founded Palantir Technologies in 2003, is now watching his company sit at the center of modern warfare. Palantir builds AI software that helps armies track enemies, plan strikes and manage battlefield data in real time. It works with the US Army, the Pentagon, Ukraine's government and Israel's defence ministry. 

The company crossed USD 1 billion in US government contracts this year, and its stock turned into one of Wall Street's most talked-about AI plays. This article looks at how Thiel built this empire, what the numbers show, and why critics call it dangerous.

Also Read: Best AI Software Stocks 2026: Palantir vs Snowflake vs MongoDB Compared

Thiel was born in Frankfurt in 1967 and studied philosophy and law at Stanford. He co-founded PayPal in 1998 and sold it to eBay for USD 1.5 billion in 2002. That payout funded his next big bet. In 2003, Thiel launched Palantir with a small team, naming it after the seeing-stones from ‘The Lord of the Rings.’

The CIA's venture arm, In-Q-Tel, gave the company its first outside money. Thiel still serves as chairman, while Alex Karp runs the company as CEO. Thiel calls the mission simple: give Western governments tools sharp enough to stay ahead of rivals like China and Russia.

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