Tech and Finance Sectors See Major Developments: Palantir Soars, Fintech CEO Arrested, and Waymo Expands
Several significant developments unfolded across the tech and finance sectors, including a surge in Palantir's stock, the arrest of a fintech CEO on fraud charges, and Waymo securing substantial funding for its robotaxi service.
Palantir Technologies saw its shares surge nearly 8% in after-hours trading after reporting record quarterly results, according to Fortune. CEO Alex Karp, known for his outspoken style, proclaimed on the earnings call that Palantir is "an n of 1 in the artificial intelligence software market." He further stated that the company's performance was "one of the truly iconic performances in the history of corporate performance or technology." Investors reacted positively to the company's faster growth, increased margins, and revenue outlook, which exceeded expectations, Fortune reported.
In the fintech world, Gökçe Güven, the CEO of rewards platform Kalder and a Forbes 30 Under 30 honoree, was arrested on federal charges, including securities and wire fraud, TechCrunch reported. The Department of Justice (DOJ) alleges that Güven misled investors during a $7 million seed round by inflating client lists and revenue projections. Kalder, which aimed to help companies monetize rewards programs through affiliate sales, claimed partnerships with major organizations like Godiva and IATA. The arrest has raised concerns about due diligence practices in venture capital and its impact on the burgeoning fintech sector, according to TechCrunch.
Meanwhile, Waymo secured $16 billion in funding to expand its robotaxi service, valuing the company at $126 billion, according to MIT Technology Review. This investment signals strong market confidence in Waymo's autonomous vehicle technology. The electric vehicle (EV) market is also experiencing rapid growth, with EVs comprising over a quarter of global new vehicle sales in 2025. There is also growing interest in alternative battery chemistries like sodium-ion due to cost considerations, MIT Technology Review noted.
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