Palantir Technologies Inc. hasn't yet publicly announced it, but the software company has moved its headquarters out of Palo Alto to Denver, Colorado.
The $20 billion, data-analysis company has come under scrutiny and multiple protests in Palo Alto for allegedly tracking immigrants for the U.S. Immigration and Customs Enforcement (ICE) and counterintelligence agencies, among other data it collects.
Palantir lists Denver as its headquarters on its website and on social media pages. A source familiar with the company told the Weekly on Thursday that the information on the website is accurate. The company will still have a presence in Palo Alto and expects that some employees will transfer to Denver, but the number is not yet known and would happen sometime later.
Multiple local and national media outlets reported the news on Wednesday.
Palantir has been scaling back its footprint over the past few years. CEO Alex Karp has made it clear that he isn't happy with Palo Alto's political landscape.
In a May interview, he told Axios that he was considering moving to Colorado due to the "increasing intolerance and monoculture of Silicon Valley."
Palantir has 1,400 employees worldwide with an estimated 350 to 400 in Palo Alto. A company spokesperson declined to comment on the move, citing that Palantir is in a U.S. Securities and Exchange Commission "quiet period," in which SEC rules mandate a company must maintain silence when it files a registration statement to go public until SEC staff declare the registration statement "effective." Federal securities laws limit what information a company and related parties can release to the public. Failure to comply is referred to as "gun-jumping."
Palantir's tenure in Palo Alto has at times been rocky. The company faced multiple protests outside its headquarters at 100 Hamilton Ave. for its data relationship with ICE. In 2017, tech workers protested concerns that the company might work with President Donald Trump's administration to create a Muslim registry.
The company also riled neighbors in the city that same year when it took over a Cubberley Community Center soccer field for its annual employee party.
Palantir also made community contributions while based in Palo Alto. The company launched a computer-coding after-school program for low-income youth in 2015 through the Palo Alto Unified School District.