Donald Trump speaks as (2nd L to R) PayPal co-founder and Facebook board member Peter Thiel, Apple Inc CEO Tim Cook and Oracle CEO Safra Catz look on during a meeting with technology leaders at Trump Tower in New York U.S., December 14, 2016. REUTERS
Peter Thiel's Palantir on Thursday said a Japanese insurance holding company, Sompo Holdings, has committed to invest $500 million in the Silicon Valley data analysis and surveillance technology firm that serves the U.S. government and the Central Intelligence Agency, among other clients worldwide.
Writes Jane Lanhee Lee at Reuters:
The large investment from Sompo comes as Palantir has seen an uptick in demand for its products that help companies and governments manage the COVID-19 pandemic with data. The company declined to talk about Palantir’s latest valuation or its plans to go public.
Reuters reported last week that Palantir is aiming to file confidentially with U.S. regulators for an initial public offering in the coming weeks, citing sources.
Palantir was valued at around $20 billion in its last fundraising round in 2015. In the private market, its shares have been trading in recent weeks at a valuation of between $10 billion and $14 billion, according to market sources.
Late last year, Palantir also launched a 50-50 joint venture with Sompo called Palantir Technologies Japan K.K. to service the Japanese government as well as commercial clients. And earlier this month another Japanese tech company, Fujitsu Limited, invested $50 million into Palantir in the United States. Both Sompo and Fujitsu are also customers of Palantir.
More at Reuters:Japanese insurer Sompo investing $500 million in data analytics firm Palantir
On Thursday, Tesla denied media reports that it fired employees who chose to stay at home during the coronavirus pandemic, rather than expose themselves to possible infection at Elon Musk’s California factory.
A Black man in Detroit was wrongfully arrested and detained by police who mis-identified him with a false facial recognition hit. The case of Robert Williams, an innocent person who was held in police custody for a day, is the first publicly reported case of artificial intelligence resulting in a false arrest in the United […]
Eddie Bauer, Magnolia Pictures, Ben & Jerry’s, REI, and Patagonia are some of the brands that have suspended Facebook ad campaigns over the platform’s reckless content moderation practices that allow political and COVID-19 disinformation to proliferate.
This is truly a golden age for fans of a big ginormous TV screen. Not too long ago, to buy a television over 40 inches usually meant wheeling one of those massive Mitsubishi or Toshiba projection monoliths into your home, consuming a vast portion of any room at a cost of potentially $7,000 to $8,000. […]
Nearly 30 years after it started its run as the most dominant productivity software ever created, the Microsoft Office suite of programs are now virtually synonymous with personal computing. From its days bundled with Windows to its current life as Office 365 cloud-based apps, there’s no reason to think perennial hits like Word, Excel and […]
Photography isn’t just about lighting and composition anymore, especially when you’re shooting with your smartphone. While a wealth of expertise can absolutely help you grab better images, sometimes it’s just about having a great light or an amazing smoothing gimbal to instantly elevate your Instagram pics and other social videos from meh to standout. To […]