Report on Palantir - Q2 '26
A review of Palantir's last quarter through Foundry link activity
Palantir’s Q2 closed a week ago, yielding new Foundry data: 165 new entities, edging past Q1’s 156 and making this the strongest Q2 on record since I started tracking these numbers 5 years ago.
In this new Report on Palantir, I’ll be breaking down new data regarding recently acquired companies and Proof-of-Concepts that will most probably translate into clients in the not too distant future. I’ll also be disclosing some of these new names, with all specific data uploaded on my DataBase.
165 new entities makes this the busiest Q2 I’ve logged — comfortably ahead of Q2 2023 (74) and Q2 2022 (23). The two years in between represent an average, due to a “retirement” period in which I didn’t post any update. Q2 2024 through Q4 2025 sits in the DataBase as one 830-entity block rather than seven clean quarters. I’m showing that block’s quarterly average (≈119) in grey so the shape of the trend is visible without pretending I have precision I don’t. Even so, the trend continues to look pretty positive.
Q2 ‘26 vs. Q1 ‘26
Small headline growth (+5.8%), but with stronger individual names that didn’t appear during last quarter. We have a much more palpable presence of the important entities; Codenames and Companies, compared to Acronyms, which sometimes refer to specific Palantir’s internal operations.
Healthcare overtakes IT for the first time since I started tracking industry tags. Full ranking below — the untagged 49 are my own classification, based on public identity and, for tickers, a same-week market check.
The names worth knowing about
We see giants like Wells Fargo and HP, although the other names are quite more exciting when taking into account the direction of the markets and where these industries are going. I’m talking about fast food and energy, with healthcare playing a big role as usual. We also see some consolidation regarding defense and technology companies.
These are exciting times regarding Palantir and adoption of their platforms, in which we are starting to see a literal “trickle down” effect which we have been predicting for years, now.
Here are the top 6 companies joining Foundry this past quarter, based on market cap: