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Palantir Technologies Inc. (NASDAQ:PLTR) CEO Alex Karp reportedly held confidential meetings with top executives from major South Korean conglomerates to discuss AI strategy, as the software company bets on the growth of its platform.
Karp met with executives from four major South Korean companies during Tuesday’s “AX Leaders Summit” hosted by KT Corp (NYSE:KT) in Seoul, as reported by The Korea Economic Daily. The meetings were held in strict secrecy, with each executive placed in a separate room to ensure their company's AI strategy remained confidential.
Check the current price of PLTR stock here
“Every meeting was kept secret to prevent exposure of each company's AI transformation strategy. It was orchestrated with almost military discipline,” the publication reported, citing a source familiar with the matter.
The Korean executives included Woo Kee-hong, vice chairman of Korean Air Lines Co.; Kim Yong-beom, vice chairman of Meritz Financial Group Inc.; Koo Ja-kyun, chairman of LS Electric Co.; and Lee Joo-tae, CEO of POSCO Holdings Inc. (NYSE:PKX). Each meeting lasted approximately 25 minutes.
Karp and Koo discussed AI-powered data centers and LS Electric’s use of Palantir technology, according to the report.
The meetings underscore Palantir’s growing interest in South Korea’s data-rich manufacturing sector.
The company did not immediately respond to Benzinga‘s request for comment.
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Palantir is making significant strides in the AI and data analytics space.
Just a few days ago, Accenture (NYSE:ACN) acquired Decho, a U.K.-based technology and AI consultancy specializing in Palantir platforms, to expand its AI capabilities.
The company also surpassed $1 billion in revenue for the first time and raised its full-year outlook in August thanks to the success of its AI platform.
This growth, along with other factors, has led to Palantir’s valuation being described as “well beyond a Perfect 10 and is rather a ‘Perfect 100'” by Lead Tech Analyst at I/O Fund, Beth Kindig.
According to Benzinga Edge Stock Rankings, Palantir has a growth score of 95.82% and a momentum rating of 96.74%. Click here to see how it compares to other leading tech companies.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
