Spy-tech biz Palantir has overstated its claim to be a generative AI company, according to one investment analyst who thinks this might explain its recent slowdown in growth from commercial markets.
Earlier this week, Palantir saw its share price dip despite posting on-the-nose revenue growth of 21 percent year-over-year to reach $634 million in the first calendar quarter. Revenue guidance was lower than expected and US commercial growth fell from 70 percent to 40 percent. On the same call, CEO Alex Karp said Palantir did not have AI competitors in the commercial or government markets."I think that's the reason Ukraine and Israel bought our product. We are differentiated because in order to actually make AI work, you need an ontology. No one has an ontology," he said.