Reported about 14 hours ago
Palantir Technologies now holds an 8.7% ownership in electric vehicle startup Faraday Future after receiving over 800,000 shares as payment for unpaid services, according to a recent SEC filing. The stake comes after a settlement between the two companies, which followed Faraday Future's failure to pay for contracted services dating back to 2021. While Palantir intends to treat its investment passively, it reflects the tumultuous landscape of EV startups, many of which faced significant challenges after initial public offerings.
Source: YAHOO