Palantir Technologies Inc. (NYSE:PLTR) Head of Defense and former Congressman Mike Gallagher is sounding alarms about China’s military intentions, warning that the U.S. is failing to adequately prepare for potential conflict.
What Happened: “I’d say my entire eight years in Congress could be summarized as China is preparing for war with America, and we’re not taking it seriously,” Gallagher stated at the National Security Innovation Base Summit 2025 on Wednesday, emphasizing that Chinese President Xi Jinping‘s economic challenges might actually be evidence of preparations for conflict.
“Xi Jinping’s economy su*ks because he is trying to sanction-proof his economy and prepare it for the pain that will ensue if he goes to war with America,” Gallagher said.
Gallagher dismissed counterarguments that economic consequences would deter Chinese aggression: “In a Marxist-Leninist system, they are much less sensitive to casualties and pain than in a republic such as ours.” He urged the U.S. to “rearm as rapidly as possible” and shift military resources to the Pacific.
See Also: NBA Legend Shaq Says His Net Worth ';Quadrupled’ Once He Took Note From Jeff Bezos And Started Investing In Things That ';Change People’s Lives’
Why It Matters: The warnings come amid Palantir’s deepening integration with President Donald Trump‘s administration. CEO Alex Karp has expressed strong support for Elon Musk‘s Department of Government Efficiency (DOGE), calling it a “revolution” that will benefit Palantir.
Palantir has seen its government contracts surge, with U.S. government revenue up 45% year-over-year to $343 million in the fourth quarter. The company recently announced AI deployments at Societe Generale to combat financial crime and formed a joint venture with TWG Global for AI solutions across financial sectors.
Palantir’s influence continues to grow. Wedbush Securities analyst Dan Ives suggested buying PLTR now could be comparable to purchasing Tesla Inc. (NASDAQ:TSLA) stock in 2015, calling it part of “the biggest tech trend in the last 40 to 50 years.”
Price Action: Palantir Technologies Inc. closed at $90.13 on Wednesday, up 6.79%. After hours, it rose to $90.50, up 0.41%. Year to date, it’s up 19.87%, and over the past year, it has surged 278.54%, according to data from Benzinga Pro.
Read Next:
- Mark Cuban Was Asked How He’d Invest $100K -- His Answer? Buy Bulk Toothpaste And Soup For The ';Best Guaranteed Return On Investment’
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
