Storebrand Divests from Palantir over Israel Concerns

Norwegian investment firm Storebrand Asset Management has divested its $24 million stake in Palantir Technologies due to concerns over the company's involvement with the Israeli military in occupied Palestinian territories, which Storebrand claims may violate international humanitarian law and human rights. Storebrand's decision follows a March warning from the Norwegian government advising businesses against financial activities in Israeli settlements. Palantir, co-founded by billionaire Peter Thiel, has deepened its ties with Israel’s defense sector, which includes providing AI technology for military operations. CEO Alex Karp has publicly supported Israel amidst the ongoing conflict, stating the firm is proud of its collaborations despite facing employee departures over the stance. Storebrand reported that Palantir did not respond to their inquiries regarding its operations in Israel, further complicating their investment considerations. The International Court of Justice has deemed Israel's occupation illegal, a stance that Israel's government disputes.