Palantir Technologies has quietly become one of the most consequential defense contractors in the country. The Peter Thiel-founded data company crossed $1 billion in US government contracts in fiscal year 2026, a figure that would have seemed far-fetched just a few years ago.
Under President Trump’s second term, Palantir’s transformation from niche intelligence tool to full-blown military contracting powerhouse has accelerated rapidly.
The contract pipeline keeps getting bigger
The centerpiece of Palantir’s government expansion is a $10 billion, 10-year Enterprise Agreement with the US Army, secured in July 2025. That deal consolidated multiple existing contracts into a single streamlined arrangement designed to modernize the Army’s data infrastructure.
Federal obligations to Palantir hit $970.5 million in 2025, with total historical federal awards exceeding $1.9 billion. Then came fiscal year 2026, when obligations pushed past the $1 billion mark for the first time.
