Palantir Technologies under tax scrutiny as its streetwear line gains cult following

Palantir Technologies, a U.S. data analytics and artificial‑intelligence firm, reported second‑quarter 2024 revenue of $1.94 billion, up 93% from a year earlier. A study by the Centre for International Corporate Tax Accountability and Research (CICTAR) found the company’s global effective tax rate was only 1.4% in 2025, attributing the low rate to profit‑shifting that moves earnings to its U.S. parent and minimizes federal corporate tax. In the United Kingdom Palantir recorded a £2 million tax charge despite securing more than £670 million in government contracts, highlighting the disparity between its contract earnings and tax contributions. The report did not allege illegal activity but raised ethical concerns about a firm receiving billions in public contracts while paying little tax.

In 2024 Palantir also launched a limited‑edition apparel line marketed as streetwear, featuring its chevron logo on hats, T‑shirts and tennis wear made in America. The collection has attracted a niche following among retail investors and supporters who view the clothing as a subtle signal of patriotism and confidence in U.S. technology. Buyers such as Tampa accountant Brett Krieger and Washington think‑tank employee Jesse Arm describe the gear as “if you know, you know” and note its rapid sell‑outs.