Palantir pop-up in Seoul draws investor frenzy

“A few tens of thousands of won for merchandise is nothing compared with how much Palantir has boosted my wallet,” said Park, 29, as she waited outside Palantir’s pop-up store in Seongsu-dong, Seoul, on Monday. A cafe worker, Park bought Palantir shares six months ago and became a fan as the stock rose, even changing shifts to attend the event.

Palantir Technologies, the U.S. artificial intelligence software firm and a standout on the Nasdaq-100 this year, has risen 135 percent. The company, which builds data-driven operating systems for clients including the CIA, recently entered the top 20 in U.S. market value.

Primarily known for business-to-business and business-to-government services, Palantir drew crowds by opening its first pop-up store to sell branded goods. The shop operated for two days, from noon to 8 p.m., attracting long lines of retail investors and fans. “I arrived two hours before opening and the line was already about 100 meters,” said Lee, a shareholder in her 40s. Some in the queue held CEO Alex Karp’s book "The Declaration of the Tech Republic." The crowd at times wrapped around the building and spilled onto nearby streets.

The turnout reflected CEO Alex Karp’s remark in a Dong-A Ilbo interview that he has many fans. Photos and videos from the event circulated widely on social media, with some users calling it a de facto shareholders meeting. When Karp briefly appeared around 1:20 p.m., the crowd cheered and called for selfies, holding up their phones to capture photos with the CEO.

The most popular item at the pop-up was the cap Karp has been wearing during his visit. The minimalist hat features only the Palantir logo, and several fans said they wanted to wear the same style as Karp.

Later the same day, Karp met KT CEO Kim Young-sub at KT’s Gwanghwamun headquarters to discuss adoption and expansion of Palantir’s platform. KT also held the AX Leader Summit to coincide with his visit.


최원영 o0@donga.com