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Bloomberg <\/p>\n Bloomberg <\/p>\n
(Bloomberg) — Palantir Technologies Inc. said it\u2019s moved its headquarters to Miami from Denver at a time when tech firms are headed to South Florida as local officials promote the region as an alternative to California\u2019s Silicon Valley.<\/p>\n
The announcement was made Tuesday in a brief statement on the social media platform X, with no reason provided for the move. A spokesperson for the company didn\u2019t respond to a request for comment.<\/p>\n
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\u201cWe\u2019re very excited as a company and anxious to be a part of the community here,\u201d Shon Manasco, a Palantir executive, said while speaking on a panel at the Defense Tech Leadership Summit on Tuesday in West Palm Beach.<\/p>\n
Palantir, a data analytics company with extensive defense contracts, is Colorado\u2019s largest public company. Its decision followed multiple protests since it moved to Denver in 2020 from Palo Alto, due to cultural and ideological differences, according to the Denver Post. Protests have targeted the company\u2019s support of the Israeli military and more recently its work with US Immigration and Customs Enforcement by using artificial intelligence to identify targets for deportation.<\/p>\n
State and local officials said they were not told of the decision ahead of time, including Colorado Governor Jared Polis.<\/p>\n
\u201cWe don\u2019t have any information about potential job impacts at this time either, and hope that it won\u2019t impact the jobs based in Colorado,\u201d Eric Maruyama, a spokesperson for Polis, wrote in an email.<\/p>\n
\u201cWe did not receive advance notice of Palantir\u2019s decision to leave Denver,\u201d said Jon Ewing, a spokesperson for Denver Mayor Mike Johnston, in an email. \u201cDenver remains a national hub for the tech sector, and that won\u2019t change with Palantir\u2019s departure.\u201d<\/p>\n
Miami has been attracting firms and wealthy business executives since the outset of the pandemic drawn by a mix of low taxes, good weather and relatively safe streets. Since Citadel\u2019s big move in 2022, finance companies and tech companies such as Apple Inc. and Amazon.com Inc. have opened or expanded offices. ServiceNow Inc. has committed to opening an office in West Palm Beach.<\/p>\n
More recently, a wave of California tech billionaires have been shopping for mansions in Miami at a time when a wealth tax is being discussed back home.<\/p>\n
Ken Griffin and Stephen Ross, among the highest-profile billionaires to move to South Florida during the pandemic, recently started bankrolling a new campaign to get others to follow in their footsteps. The pair is funding a $10 million drive to convince more executives, investors and founders to move to the region.<\/p>\n
Peter Thiel, Palantir\u2019s chairman, opened an office for his private investment firm in Miami\u2019s Wynwood neighborhood at the end of 2025, expanding the billionaire\u2019s presence in Florida. The tech mogul has owned a mansion in Miami Beach since 2020, and his venture capital firm Founders Fund has had an office nearby since 2021. He also moved his voter registration to Florida in March 2024, according to state records.<\/p>\n
Palantir, which has locations across the globe, is also expanding its presence in New York City. It was set up in the early 2000s by Thiel and four other co-founders, including Chief Executive Officer Alex Karp, and secured early investment from In-Q-Tel, the CIA\u2019s investment arm. The company relies on the US government for the largest share of its revenue, with contracts worth close to $900 million with the Pentagon last year, along with smaller contracts for ICE, as well as Treasury and other government agencies, according to data compiled by Bloomberg Government.<\/p>\n
Overall, US government revenue grew 55% year-over-year in fiscal 2025 to $1.855 billion, Palantir reported earlier this month.<\/p>\n
Francis Suarez, the former two-term mayor who spent years trying to attract tech and crypto firms to Miami, celebrated the move on X.<\/p>\n
\u201cThis is the tipping point!!!!\u201d he wrote. \u201cWhat a watershed moment for Miami…\u201d<\/p>\n
–With assistance from Katrina Manson and Anna J Kaiser.<\/p>\n
(Updates with governor\u2019s response in sixth paragraph.)<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
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