---
title: "Two years after $1 million to Trump's super PAC, Palantir's Karp says he's a Democrat"
description: "The Politico interview caps ten days of hedges around Palantir's $953 million quarterly government book, which now answers to a Congress expected to investigate it. The stock question is whether any of it matters beside US commercial bookings that fell 31 percent in a quarter."
publisher: "The Inference"
section: "Policy & Labor"
published: 2026-11-13T17:34:51.293Z
modified: 2026-11-13T17:34:51.293Z
canonical: https://theinference.org/article/two-years-after-1-million-to-trump-s-super-pac-palantir-s-karp-says-he-s-a-democrat
language: en
keywords: "Palantir, Alex Karp, Congress, Political Donations, Government Contracts"
---

# Two years after $1 million to Trump's super PAC, Palantir's Karp says he's a Democrat

> The Politico interview caps ten days of hedges around Palantir's $953 million quarterly government book, which now answers to a Congress expected to investigate it. The stock question is whether any of it matters beside US commercial bookings that fell 31 percent in a quarter.

## A Democrat, suddenly

[Palantir](https://theinference.org/markets/companies/palantir) chief executive [Alex Karp](https://theinference.org/markets/people/alex-karp) told Politico on November 11 that he has "been a Democrat my whole life" and that "all of our products are essentially progressive" [1]. His giving, he said, is "equal, Democrat, Republican," and he is open to voting Democratic in 2028 [2]. Eight months earlier he had argued his technology "disrupts" the economic power of "largely Democratic" voters [1]. A [Reddit](https://theinference.org/markets/companies/reddit) thread on the interview collected 7,150 points in two days [3].

## Ten days, four hedges

The record around the interview is dated and fast. On November 3, Democrats won both chambers of Congress, and technology companies were already bracing for a wave of Democratic scrutiny of their ties with the Trump administration when the new Congress sits in January [4].

On November 4, [FEC filings reviewed by Sludge](https://readsludge.com/2026/11/04/the-money-behind-hakeem-jeffries/) showed a Palantir manager gave $44,300 this cycle to the fundraising committees of Hakeem Jeffries, the Democrat positioned to be speaker [5]. On November 9, President Trump nominated Palantir's chief information security officer, Michael LoSapio, to run CISA, the federal cyber defense agency, a nomination that goes to the incoming Democratic Senate if the lame duck does not act [6]. The same day, former Democratic senator Jon Tester of Montana confirmed an advisory role at the company [7].

## The government is the customer underneath

The customer underneath all of it is the US government: Palantir's software supports Army command systems and the Pentagon's Maven AI platform, used in operations in Venezuela and Iran [8].

## Cover bought on every side

Read in sequence, the moves hedge both parties at once: $1 million to the pro-Trump super PAC MAGA Inc. in December 2024 [2], a manager's money to the incoming speaker's committees [5], a Democratic ex-senator on the payroll, the security chief in line for a Senate-confirmed post [6], and now the chief executive claiming the other party.

Tester, whom the company approached in July, before the election [7], described the job plainly: "Let's just say that they're pulled in front of a committee. I'm more than happy to talk [to the company] about the different members on the committee that I know" [7]. He says the role is advisory, not lobbying [4].

## The quarter behind the politics

The customer being defended paid $953 million last quarter, up 96 percent [10]. For the first time, it was not the bigger half: US commercial revenue reached $984 million, up 148 percent [10]. Total revenue was $2.31 billion, up 96 percent year over year, [the thirteenth straight quarterly acceleration](https://theinference.org/article/palantir-grew-93-last-quarter-as-europe-and-india-build-its-rivals), and full-year guidance rose to about $8.53 billion [9][10].

{{pltr-revenue}}

*Chart: **Revenue has risen every quarter for three years, to $2.31 billion** Column chart of Palantir's quarterly revenue from Q4 2023 to Q3 2026, climbing from $608 million to $2.31 billion.*

*Palantir's revenue by quarter, in billions of dollars, from its SEC filings. Q3 2026 revenue of $2.31 billion was 95.9 percent above a year earlier, and growth has accelerated in every quarter shown. Source: Palantir, quarterly figures from its SEC filings. [12]*

The fraying edge is bookings: total contract value signed in US commercial fell 31 percent from the second quarter [9]. Institutions moved too: the [iShares Expanded Tech-Software ETF trimmed all 106 of its positions](https://finance.yahoo.com/markets/stocks/articles/ishares-tech-software-etf-igv-110508154.html) on October 29, and its largest single sale was Palantir, 135,521 shares for $26.6 million [11]. The stock fell about 3 percent after hours on the beat and is down about 5 percent this year [10].

{{igv-trims}}

*Chart: **Government is 41 percent of revenue, just behind US commercial** Pie chart of Palantir's Q3 2026 revenue: US commercial $984 million, US government $953 million, and $376 million outside the US.*

*Palantir's $2.31 billion of Q3 2026 revenue by customer: US commercial $984 million, US government $953 million, and the $376 million remainder outside the US. Government is 41 percent of the whole, the exposure an incoming Congress would be examining. Sources: Palantir's quarterly results and SEC filings. [10][12]*

## Two priced paths, one reading

If the incoming Congress opens the file, Senator Ron Wyden, incoming chairman of the Finance Committee, has said compulsory processes are "on the table" if Palantir stays unresponsive [4], and [roughly 41 percent of last quarter's revenue sits in the government book](https://theinference.org/article/the-defense-department-paid-palantir-2-05-billion-in-a-year-the-short-case-runs-through-the-commercial-line) [10]. If commercial carries instead, the raised $8.53 billion guide and a US commercial floor above $3.56 billion do the work [10]. [One closely read earnings note](https://www.tmtbreakout.com/p/tmtb-palantir-pltr-and-on-semi-first) puts the stock near 75 times estimated 2027 revenue [9], which prices the good path. The tell is US commercial bookings at the fourth-quarter print, against revenue guidance of about $2.65 billion [9].

Karp can change parties in an interview. The bookings line changes once a quarter.

## Takeaway

Palantir has spent ten days buying cover on both sides of a Congress that will examine its $953 million quarterly government book. What settles the stock is not the politics but US commercial bookings at the fourth-quarter print.

## Sources

1. [The New Republic, Palantir's Alex Karp Suddenly Claims He's a Progressive After Election, 11 November 2026](https://newrepublic.com/post/217864/palantir-alex-karp-progressive-democrat-blue-wave-election)
2. [The Register, Palantir's Karp takes a sharp left turn, says he and the company's products are actually 'progressive', 12 November 2026](https://www.theregister.com/software/2026/11/12/palantirs-karp-takes-a-sharp-left-turn-says-he-and-the-companys-products-are-actually-progressive/5309441)
3. [Reddit r/politics, thread on Karp's pivot, 7,150 points, accessed 13 November 2026](https://old.reddit.com/r/politics/comments/1xtntlb/palantirs_alex_karp_suddenly_claims_hes_a/)
4. [NPR, Palantir hires a former Democratic senator as it faces scrutiny in new Congress, 9 November 2026](https://www.npr.org/2026/11/09/nx-s1-6029641/palantir-congress-jon-tester-investigations)
5. [Sludge, The Money Behind Hakeem Jeffries, 4 November 2026](https://readsludge.com/2026/11/04/the-money-behind-hakeem-jeffries/)
6. [The Register, Trump taps Palantir security chief to run battered US cyber defense agency, 10 November 2026](https://www.theregister.com/security/2026/11/10/trump-taps-palantir-security-chief-to-run-battered-us-cyber-defense-agency/5308763)
7. [Montana Free Press, Former U.S. Sen. Jon Tester takes advisory role with Palantir, 9 November 2026](https://montanafreepress.org/2026/11/09/tester-takes-advisory-role-palantir/)
8. [StockTwits via Yahoo Finance, 'Captain Of The Football Team': Alex Karp Says Palantir's AI Appeal Is Surging, 3 November 2026](https://finance.yahoo.com/markets/stocks/articles/captain-football-team-alex-karp-024715024.html)
9. [TMT Breakout, TMTB: Palantir (PLTR) & ON Semi First takes, 3 November 2026](https://www.tmtbreakout.com/p/tmtb-palantir-pltr-and-on-semi-first)
10. [StockTwits via Yahoo Finance, Palantir Blows Past Expectations In Q3 On Strong Commercial Sales, But Valuation Concerns Dampen Sentiment, 2 November 2026](https://finance.yahoo.com/markets/stocks/articles/palantir-blows-past-expectations-q3-234657297.html)
11. [GuruFocus via Yahoo Finance, What iShares Tech-Software ETF (IGV) Sold: Palantir Leads on Oct. 29, 2 November 2026](https://finance.yahoo.com/markets/stocks/articles/ishares-tech-software-etf-igv-110508154.html)
12. [Palantir, quarterly figures from its SEC filings, retrieved 13 November 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001321655)


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Two years after $1 million to Trump's super PAC, Palantir's Karp says he's a Democrat — The Inference. Canonical: https://theinference.org/article/two-years-after-1-million-to-trump-s-super-pac-palantir-s-karp-says-he-s-a-democrat