Palantir stands out in a technology sector that has been turbulent on the stockmarket so far this year. After posting the best performance in the S&P 500 in 2024 (+341%), Palantir is the second best performer in the index in 2025 (+72%).

This meteoric rise is based on the growing appeal of its artificial intelligence tools for military use, but also on its privileged relationship with the executive branch.

Co-founder and president of the company, Peter Thiel is a long-time supporter of President Trump. He also has close ties to Vice President JD Vance, who he supported in the 2022 Senate elections.

"The relationships that Palantir's founders have with senior members of the Trump administration are useful for business," Gil Luria, an analyst at D.A. Davidson sums up.

But beyond the prospect of new contracts, Palantir is at the heart of the new administration's strategy. In March, President Trump signed an executive order calling on the federal government to share data between agencies.

This goal is expected to be implemented by Palantir and its software suite, particularly Foundry, which is designed to organize and analyze data. According to government officials, widespread use of Foundry would facilitate the merging of information between agencies.

All of this raises legitimate questions about the government's ability to compile a master list of personal information on Americans, which could give it unprecedented surveillance powers.

However, the rollout of these solutions is already underway. According to a tally by the New York Times, Palantir has received over $113m in public funding since Trump took office, including both budget extensions on existing contracts and new agreements with the Department of Homeland Security (DHS) and the Pentagon.

In addition, the Department of Defense recently awarded a $795m contract, although the funds have not yet been committed. Furthermore, discussions are underway between Palantir and at least two other agencies—Social Security and the Internal Revenue Service (IRS)—to provide them with its technologies, according to six sources familiar with the matter, including government officials and company employees.

The creation of detailed profiles of US citizens based on government data is no longer hypothetical. Under the Trump administration, efforts have been made to access hundreds of personal indicators via government databases, including bank account numbers, student debt, medical payments, and disability status.

All of this sensitive information could be exploited by Donald Trump to further his political agenda, mirroring certain authoritarian practices, such as those of China, which is a pioneer in technological surveillance.

Faced with these potential abuses, voices are being raised to denounce Palantir's growing role, evoking a shift towards a Big Brother-style surveillance model. Echoing a famous phrase: "Palantir is watching you."

While caution remains the watchword regarding the future development of these tools, it should nevertheless be remembered that Palantir has always enjoyed close ties with the US government. The company was founded in 2003 with the support of the CIA. Government contracts account for a large part of its business. In the last quarter, they accounted for more than 42% of its revenue.