On June 22, Palantir Technologies declined 3.18% in regular trading, trading at $124.18 per share, with turnover of $1.415 billion. The stock continues to face pressure following France's announcement to terminate its intelligence partnership with the company.
French Prime Minister Sebastien Lecornu announced that France's General Directorate for Internal Security (DGSI) will stop using Palantir's AI data analytics platform, replacing it with French domestic firm ChapsVision. Lecornu cited technological sovereignty concerns, stating that France cannot depend on foreign-developed tools or form new strategic dependencies in the digital domain. The decision was partly triggered by a recent US government move to restrict non-Americans from accessing Anthropic's latest AI cybersecurity tool.
While France had renewed a long-term contract with Palantir last year — meaning the full transition could take years — the move reflects a broader European trend toward digital sovereignty and reducing reliance on US technology providers. ChapsVision, founded in 2019 with expertise in data collection and analysis, reported approximately 200 million euros in revenue last year. The loss of a major intelligence contract signals potential headwinds for Palantir's international government business.
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