Story perspectives

Activists Press SNB to Dump $1.1B Palantir Stake

4/24/2026

Summary

Campaigners Urge Sale

Campaigners from Minneapolis urged the Swiss National Bank to sell its $1.1 billion Palantir stake at the Bern meeting on April 24, 2026, citing the firm’s ICE surveillance contract as a breach of the bank’s human-rights policy.
The SNB held 6.24 million Palantir shares at the end of 2025, part of its 725 billion Swiss-franc foreign-currency portfolio.
SNB Chairman Martin Schlegel said the bank follows a market-neutral strategy and screens companies for human-rights breaches.

Summary

Palantir Gains Deals

The USDA signed a $300 million agreement with Palantir for the Plan and “One Farmer, One File,” and Palantir shares fell 7.24% to $141.57.
Pentagon is moving Palantir’s Maven toward program-of-record status, which could lock in funding.
Palantir and Anduril are developing software for Golden Dome missile-defense with Scale AI.
American Oversight sued federal agencies for misuse of Palantir’s tools, while Rosenblatt kept a buy rating and InvestingPro called it overvalued.

History

Historical Context

In 2010 the U.S. Department of Defense awarded Palantir a $10 million contract to deploy its Gotham data-fusion platform in Afghanistan, marking the firm’s first major military use. That early defense win helped embed Palantir in U.S. intelligence and later attracted scrutiny, prompting Minneapolis activists in 2024 to urge the Swiss National Bank, led by Martin Schlegel, to divest its Palantir holdings.

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Campaigners Urge Sale

Campaigners from Minneapolis urged the Swiss National Bank to sell its $1.1 billion Palantir stake at the Bern meeting on April 24, 2026, citing the firm’s ICE surveillance contract as a breach of the bank’s human-rights policy.
The SNB held 6.24 million Palantir shares at the end of 2025, part of its 725 billion Swiss-franc foreign-currency portfolio.
SNB Chairman Martin Schlegel said the bank follows a market-neutral strategy and screens companies for human-rights breaches.

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