Palantir (PLTR) CEO Alex Karp says that artificial intelligence (AI) is “dangerous,” but stresses that it is still critically important for the U.S. to dominate the technology and stay ahead of China in the AI arms race.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
“My general bias on AI is it is dangerous,” Karp said in an interview on CNBC. “There are positive and negative consequences, and either we win or China will win.” Karp has been a vocal advocate for U.S. AI dominance. He has consistently said that America needs to “run harder, run faster” to develop more advanced AI models and remain ahead of global rival China.
In a recent letter to shareholders, Karp also touted Palantir’s commitment to equipping and enhancing the U.S. military with AI capabilities. The Palantir CEO said in his latest interview that the U.S. is currently ahead in the AI race, but added that more needs to be done.
Leading from the Front
“There is no economy in the world with this kind of corporate leadership which is willing to pivot, which understands technologies, which is willing to look at new things, but also has deep domain expertise,” said Karp. Denver-based Palantir specializes in data analytics and AI software. The company is a leading U.S. government contractor, particularly for the Department of Defense.
However, the company has come under criticism for its defense work, and a recent New York Times article claimed that Palantir is helping the Trump administration gather data on American citizens. Karp said on CNBC that Palantir is “not surveilling Americans.” Palantir’s stock has gained 61% this year.
Is PLTR Stock a Buy?
The stock of Palantir Technologies has a consensus Hold rating among 18 Wall Street analysts. That rating is based on three Buy, 11 Hold, and four Sell recommendations issued in the last three months. The average PLTR price target of $100.13 implies 17.65% downside risk from current levels.
