Palantir to help Ukrainian military resist Russian invasion, CEO meets Zelenskyy

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Data analysis company Palantir Technologies, Inc. PLTR pledged to support war-torn Ukraine as it continues to fight the ongoing Russian invasion.

What happened: Palantir CEO Alex Karp traveled to Ukraine on Thursday and met the President Volodymyr Zelensky, Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov said in a tweet.

Both parties agreed to open Palantir’s office in Ukraine.

The US tech company promised to extend digital support to the Ukraine arm, saying in a tweet that it was discussing the ongoing war in Ukraine and the central role of software in security.

Related link: Why this data analytics company’s ‘high growth’ is likely to continue

Why it matters: Karp is the first corporate CEO to visit Ukraine since the war began. Even before his visit, Palantir declared his support for Ukraine and other war-affected countries in Eastern Europe.

“Every product and capability has been used by our customers to support mission results in Ukraine – and across Poland, Lithuania and other countries to fuel refugee aid,” the company said in its update. first quarter business update.

Palantir, co-founded in 2003 by a billionaire investor Pierre Thiel, provides data analytics to defense and intelligence agencies and governments to help with national security, surveillance and other things. It also serves corporate clients.

Palantir’s technology has been used in Ukraine, the United States and some NATO countries since the conflict began three months ago, Bloomberg reported, citing a person familiar with the company.

price action: Palantir closed Thursday’s session up 9.93% at $9.30, according to Benzinga Pro data.

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