Palantir Technologies Inc (NASDAQ:PLTR) CEO Alex Karp expects the artificial intelligence arms race between the U.S. and China to have one winner.
Karp, on Thursday’s episode of CNBC’s “Squawk on the Street,” expressed his concerns regarding AI’s dangers while acknowledging its positive and negative consequences.
The stock is down amid reports indicating that some Republicans are criticizing the Trump administration’s deal with the company.
Also Read: Palantir CEO Alex Karp Refutes ‘Ridiculous’ Surveillance Reports, Says Company Is ‘Winning’
He had previously voiced aggressive efforts required by countries to develop more advanced AI models.
Karp said that no other economy in the world has corporate leaders as adaptable, tech-savvy, and open to innovation while still rooted in deep industry expertise. He added that Western allies, including those in Europe, must take notes from this approach.
He denied reports indicating that the company surveilled Americans to help the Trump administration gather data on Americans.
Palantir Technologies stock surged 435% in the last 12 months.
Reportedly, the Trump administration has recently expanded the company’s work across the federal government.
Since Trump took office, Palantir bagged over $113 million in contracts (new and additional funds from existing), excluding the $795 million Department of Defense contract.
Price Action: PLTR stock closed lower by 7.77% at $119.91 on Thursday.
Read Next:
- Palantir Stock Falls As GOP Lawmakers Push Back On Government Surveillance Deal
Photo by slyellow via Shutterstock
