Palantir is a big and established company, having been founded in 2004, but is still struggling to turn a profit thanks to aggressive expansion and a general downturn in the global economy particularly affecting tech. It has large customers (including the US military and in 2024, the Israeli Defence Ministry) and a strong demand for its product, but delivery is a long-term and complex proposition that can take some time to yield returns.

There has been some controversy around the company due to the work it does for the US Immigration and Customs Enforcement Agency, an organisation that Google refused to support. Palantir has stated that its technology is only used for criminal investigation and not enforcement.

Palantir has recently expanded its ongoing role with the British Ministry of Defence which will offer support for the UK's military operations and intelligence gathering by simulating operational planning. This is in addition to Palantir's partnership with the UK's NHS to help reduce the backlog of patients waiting for elective care.