Palantir co-founder and CEO Alex Karp attended the U.S. Capitol meeting in Washington, USA on October 18, 2023.
Jonathan Ernst | Reuters
share price Palantir It fell by as much as 12% on Wednesday Report The Pentagon has been ordered to prepare to reduce the U.S. defense budget by 8% each year over the next five years.
Palantir is known for his contractual work, providing software and technical services to defense agencies.
Washington Post Defense Secretary Pete Hegseth ordered senior Pentagon leaders and other military copper controls to develop plans to cut defense budgets over the next six months, said Wednesday.
The Post reported that Hegseth ordered proposed cuts by Monday.
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