Palantir Reportedly In Talks With IRS, Social Security As Federal Role Expands Under Trump

Central to Palantir’s expansion within the federal framework is its Foundry platform, which is now in use at agencies such as the Department of Homeland Security and the Department of Health and Human Services.

Palantir Technologies (PLTR) may be expanding its footprint in Washington, with new potential contracts under discussion at the Internal Revenue Service and the Social Security Administration, according to a report by The New York Times. 

The report said Palantir has received over $113 million in federal funding since Trump took office, citing public procurement records. That figure includes additional payments under existing contracts as well as new agreements with the Department of Homeland Security (DHS) and the Pentagon.

Central to the effort is Palantir’s Foundry platform, which is now in use at agencies such as the DHS and the Health and Human Services. Foundry enables users to organize and cross-analyze vast datasets, potentially creating detailed individual profiles using information from tax filings to immigration records, according to officials.

The expanded use of Palantir’s technology follows Trump’s recent executive order directing federal agencies to improve data merging, a move that has raised alarms among civil liberties groups. 

The Department of Government Efficiency, a White House office led by Elon Musk, played a central role in Palantir’s selection, officials told the Times. At least three DOGE members previously worked at Palantir, and two others were affiliated with firms backed by Palantir co-founder and investor Peter Thiel.

Earlier this month, thirteen former Palantir employees signed a letter urging the company to withdraw from the initiative.

Privacy and immigrant rights groups have also filed lawsuits challenging the administration’s plans. They argue that repurposing data collected initially for public services risks eroding public trust and increasing the potential for misuse.

Palantir told The Times it acts strictly as a data processor and does not determine how its software is applied, while the White House pointed to its executive order, citing that it is an effort to streamline federal operations.

Palantir has been collaborating with the federal government for some time. During the pandemic, the Biden administration contracted the firm to assist the Centers for Disease Control and Prevention with vaccine distribution. 

Most recently, Palantir began supporting Immigration and Customs Enforcement under a $30 million contract to build a real-time migrant tracking platform.

Palantir’s stock rose 6% in midday trading on Friday. The shares have gained 71% this year and 512% over the past 12 months. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<