Data-mining firm Palantir invested $25 million in Faraday Future shortly before the electric vehicle startup became a publicly traded company in July, according to a previously unreported Securities and Exchange Commission (SEC) document filed late last week.
In addition, Faraday Future signed a commercial contract to use Palantir’s software, according to one of Palantir’s most recent SEC filings. Neither company disclosed how much Faraday Future is paying, though Palantir’s filing notes the contract will last between four and six years. Representatives for both companies did not immediately respond to requests for comment.
Palantir says its software is meant to serve as a “central operating system” for companies that need to sift...Continue Reading