Palantir CEO Alex Karp: CEOs are Livid 7/1/26

**SPEAKER_1** (0:00)
Your data lives everywhere, on-prem, in the cloud, across apps. Bring it all together with Everpure, the platform that acts like a living system, delivering the latest in data performance, security and innovation without ever slowing you down. Sophisticated enough to anticipate your ever-changing data needs, yet simple enough to feel like second nature. Tame your data chaos with Everpure and make storage and data management the simplest part of your business. Visit everpuredata.com to learn more.

**SPEAKER_2** (0:27)
Thursday, July 16th, CNBC Sport and Boardroom, join Fanatics Fest for Game Plan. Groundbreaking ideas shaping the future of sports and entertainment. Request your invite at cnbcevents.com/gameplan.

**Andrew Ross Sorkin** (0:43)
Bring in show music, please.

**Katie Kramer** (0:47)
Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, Palantir, CEO Alex Karp, a big interview that starts with a new partnership with chip maker, Nvidia.

**Alex Karp** (0:58)
What aligns me with Nvidia, and I think is what the technical customers want, which is control over their compute, their models, their data stack, and their alpha.

**Katie Kramer** (1:10)
And spans to everything else he's fired up about in artificial intelligence and national security.

**Alex Karp** (1:16)
Are we really going to outsource the battlefield of this country to the consensus view in Silicon Valley? That is f-ing insane.

**Katie Kramer** (1:26)
Then what happens when two daughters of Congress forge a friendship across the aisle? New children's book authors, Ellie Gottheimer of New Jersey, Just our dads have always been friends.

**Ellie Gottheimer** (1:36)
Forced Sansar Well to go to a bipartisan workout group most mornings when we're in Washington, DC. So we've kind of trauma bonded over that a little bit.

**Katie Kramer** (1:43)
And Larra Mullin, daughter of the Homeland Security Secretary, Markwayne Mullin.

**Larra Mullin** (1:47)
It was definitely very different than when you say the normal childhood. A couple of times I felt like Hannah Montana.

**Katie Kramer** (1:54)
Plus a mountain of disclosures about the president's finances.

**Joe Kernen** (1:58)
Ethics, watchdogs, obviously are going to be all over this.

**Becky Quick** (2:01)
Should a sitting president be allowed to trade stocks on a regular basis? Should a congressman?

**Katie Kramer** (2:06)
Showing more than half a billion dollars in crypto income and raising some questions.

**Andrew Ross Sorkin** (2:11)
We've created a system that at the minimum allows for the perception of effectively bribery.

**Katie Kramer** (2:19)
It is Wednesday, July 1st, 2026 Squawk Pod begins right now.

**Andrew Ross Sorkin** (2:25)
Stand Becky by in three, two, one.

**Becky Quick** (2:30)
Good morning, everybody. Welcome to Squawk Box. Right here on CNBC, we are live from the NASDAQ market site in Times Square. I'm Becky Quick, along with Joe Kernen and Andrew Ross Sorkin. And here we are, first day of the second half, first day of the third quarter. What a first half it was for the year. At the halfway mark for 2026, the Russell 2000 is the standout performer for that first half. Year to date, it is up by nearly 22%.
It closed yesterday's session at a record high once again, above 3,000. The NASDAQ is up by 12.8% for the first half of the year. The S&P 500 is up by 9.5% and the Dow is up by nearly 9%, closing out its best first half performance since 2021 But if you were looking just at the second quarter, that's where there were some really phenomenal performances, particularly if you were looking at technology stocks. The NASDAQ up by about 21.5%, but the NASDAQ 100, the largest technology companies, up by 27.5% for the quarter. It's unbelievable to kind of watch. We know about the Magnificent 7 and the performance that they've been putting in, but if you haven't been watching the Parabolic 7 stocks, that was what really took off, not just throughout the entire quarter, but even yesterday. All of those stocks up by about 6% to 12%.
These are the stocks that you're watching, AMD, Dell, Broadcom, Intel. Flip that over, you're also going to be looking at Micron, Marvell, SanDisk. Those seven stocks, at this point, with the gains that they saw yesterday, are actually exceeding the Mag 7's multiples for the first time ever.

**Joe Kernen** (4:02)
AI is winning, and the war in high oil prices is losing.
That's the only thing I can say. I don't know how you explain it. How long has the war almost covered the entire quarter? Not quite.

**Becky Quick** (4:15)
It happened right.

**Joe Kernen** (4:16)
All this is happening with that is the backdrop. What did oil prices average? They came down recently, but they had to average above 90

**Andrew Ross Sorkin** (4:23)
Yeah, I was going to say high 80s, 90, 95