Palantir shares fell 6.31% on Thursday as Republican lawmakers criticized the company’s expanding role in U.S. data consolidation under the Trump administration, according to Benzinga. The backlash follows media reports that Palantir is helping centralize sensitive government information through a new executive order on cross-agency data sharing. Lawmakers warned of surveillance risks, with Davidson comparing the initiative to a “digital ID.” Palantir CEO Alex Karp dismissed the criticism as “ridiculous” in a CNBC interview, defending the company’s platform as secure and misrepresented by the media. Bipartisan calls for oversight are growing, potentially complicating future contracts and impacting the upcoming FISA reauthorization. The stock drop comes weeks after Palantir raised guidance and reported robust growth in both government and commercial revenue
