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Business

Palantir Posts $1B Profit as CEO Karp Calls AI Industry 'Marxist'

Written by AI, News Sources from TechCrunch, Fortune4 Aug 20261 min read

Palantir Technologies reported a blockbuster quarter, posting $1 billion in profit as revenue surged 93%, sending shares up 14% in after-hours trading. CEO Alex Karp used the occasion to criticize the broader AI industry, calling it "Marxist" and repeating his warning that frontier AI labs are too untrustworthy for enterprises.

Speaking on Monday, Karp said that for the first time, people believe in the company's AI software business. He also cautioned that these labs are not reliable enough for enterprise use, a stance he has previously taken.

The strong results highlight Palantir's growing success in the AI software market, as the company continues to win over customers and investors.

This summary was written by AI from the source reports listed above. It may contain errors. Please check the original source before relying on it. Spotted something wrong? Email auditor@trendingwire.news and we will correct or remove it.
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