Palantir CEO Alex Karp and other executives linked the company's Q2 growth to enterprises seeking sovereign AI or control over their data.

Karp said Chinese models can't be blamed for distilling U.S. models when the frontier labs "distilled all the value of IP, everywhere."

After a quarter that delivered $1 billion in profit, Palantir CEO Alex Karp on Monday once again warned that AI frontier labs as too untrustworthy for enterprises.