Palantir's Karp Calls AI Labs "Marxist," Warns Enterprises Are Handing Over Their IP

Palantir reported Q2 2026 revenue of $1.9 billion, up 93% year-over-year. CEO Alex Karp used the shareholder letter to call the AI industry "Marxist," writing that frontier labs intend "to capture the means of production of their purported partners." He accused enterprises of funding AI labs to migrate their IP, know-how and expertise into the labs' models.