Palantir now owns nearly 9% of EV startup Faraday Future — here’s why
Palantir acquired an 8.7% stake in Faraday Future through shares valued at $2.4 million as payment for receivables.
MAIN POINTS
- Palantir now owns 8.7% of Faraday Future.
- The stake was acquired through over 800,000 shares.
- Shares were granted as payment for outstanding receivables.
TAKEAWAYS
- Palantir's investment indicates strategic interest in electric vehicle startups.
- Faraday Future's financial struggles led to share-based transactions.
- The $2.4 million share valuation reflects Faraday's current financial position.