Palantir Rebuts Claims of Security Flaws After Stock Falls

Core Viewpoint - Palantir Technologies Inc.'s stock experienced a significant decline of over 8% following a report highlighting serious flaws in its battlefield communications system, which the company claims is outdated and inaccurate [1][2]. Company Response - Palantir stated that the issues raised in the report had already been addressed, emphasizing that no vulnerabilities were found in its platform [2]. - The company noted that the report was based on a September Army memo regarding Anduril's NGC2 prototype system, which includes Palantir as a subcontractor [2]. Stock Performance - The decline in Palantir's stock was the largest intraday drop since August, occurring after a remarkable increase of over 2,000% in the past three years [2]. Security Concerns - The Army's memo indicated vulnerabilities in the communications networks of Palantir and Anduril, citing risks from insider threats, external attacks, and data spillage, along with critical deficiencies in security controls [4]. - Lieutenant General Jeth Rey highlighted the importance of identifying security vulnerabilities during the integration of advanced technology, stating that risks were mitigated promptly [3]. Anduril's Position - Anduril also responded by stating that the issues mentioned in the report were outdated and that the NGC2 system is progressing through normal iterative development processes [5].