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FollowingPalantir lost more than 50 engineers in a year, and its share price fell by about a quarter.
According to media reports, Palantir lost more than 50 engineers in the past year, and its share price fell by about a quarter in 2026. CEO Alex Karp\'s political stance was blamed for this.
Key Points
More than 50 experienced engineers have reportedly left Palantir in the past year, many of whom have joined Anthropic and OpenAI. The company\'s shares fell 1.6% to close at $132.22 on July 8, ending a seven-day rally and are still 37% below their all-time close. European governments are reconsidering contracts with Palantir, and Democrats could threaten its more than $10 billion U.S. deal.
The outflow of engineers from Palantir accelerates
The Financial Times detailed the loss through interviews with more than 20 current and former employees, executives, investors and advisers. Palantir has lost more than 50 experienced engineers in the past year, many of whom were dissatisfied with its political stance, according to data from recruitment firm Harnham. Some have instead joined rival AI developers Anthropic and OpenAI. A source close to Palantir\'s leadership said claims of a brain drain were groundless. Karp himself has admitted that some engineers resigned because the company publicly supported Israel, and in early 2025, more employees left because of the company\'s cooperation with the Donald Trump administration.
The market responded quickly. On July 8, shares fell 1.6% to $132.22, ending a seven-day rally that had sent shares rebound 25% from their June 25 low of $107.27. Even so, the stock has fallen 27% this year, 37% below its all-time close of $207.18 on November 3, 2025.
Alex Karp faces Washington risk
D.A. Davidson analyst Gil Luria attributed the pullback to market concerns that Democratic lawmakers may target Palantir\'s government contracts-a business that generated nearly $2.2 billion in federal revenue for the company in Trump\'s first 12 months back to the White House. According to reports, if the Democratic Party wins the presidential election in 2028, deals worth more than $10 billion could be at risk; if the party retakes the House of Representatives in November, subsequent hearings could be held.
Europe has begun to withdraw. London Mayor Sadiq Khan blocked a £ 50m deal with London police in May, while a £ 330m contract with the National Health Service now faces new review. Government agencies in Germany, France and Switzerland are also gradually withdrawing for political reasons, and Paris is diverting its domestic intelligence services to local suppliers.
Palantir refuted this \"toxic\" characterization. The company said it has worked with five U.S. governments and promised \"we will continue to work with Democrats and Republicans to support all Americans.\" Karp has been controversial since he reportedly donated $1 million to a political organization that supports Trump after the 2024 election. On July 1, he advocated on television that companies should \"own the means of production\" rather than hand over data to OpenAI and Anthropic, a comment that was criticized as selfish. The stock is still below its 200-day index moving average.
