A surge of U.S. House members have recently snapped up shares in Palantir Technologies, a data analytics firm with deep ties to President Donald Trump and Elon Musk, just as it’s poised to benefit from the administration’s plans to outsource and privatize much of the federal government. Congressional transaction filings reveal a striking uptick: lawmakers with direct influence over defense and national security—sectors where Palantir rakes in hundreds of millions in contracts—are suddenly betting on its stock.
Records from the Capitol Trades website show that prior to Trump’s inauguration, only one lawmaker reported buying Palantir stock in the previous three years. Since January 20, however, at least five members have acquired shares.
Palantir, co-founded by key Trump ally and Vice President J.D. Vance mentor Peter Thiel, relies on U.S. government contracts for more than half of its revenue. Its software is sold primarily to the Department of Defense and intelligence agencies, and the company has aligned itself with Elon Musk and the Department of Government Efficiency's (DOGE) plans to implement new technological solutions for many government operations.
CEO Alex Karp recently said in a Fox Business segment that he and his company are “pro-DOGE” and that it’s “going to be great and I’m supportive of it,” telling viewers to “read into that what you will.”
“America’s going to become more lethal, more economically strong, and we’re participating in that, and we’re thrilled,” Karp said, praising the Musk-led effort.
