Colorado
Palantir — Colorado’s largest public company — is leaving Denver for Miami
Controversial data-analysis firm Palantir Technologies, the state’s largest public company with a market value of $312.2 billion, announced Tuesday morning on social media that it will relocate its headquarters from Denver to Miami.
“We have moved our headquarters to Miami, Florida” is all the straightforward post on X said.
No details were provided on how many Denver employees might be relocated to Florida or what functions will remain in Denver, if any.
The company has faced multiple protests during its time in Denver, initially for its support of the Israeli military and more recently for its work with U.S. Customs and Immigration Enforcement by using artificial intelligence to identify targets for deportation.
Members of the Denver City Council have publicly chastised the company for its work with ICE and advocacy groups have tried to push the council to divest from any services or contracts with Palantir.
Palantir faced a large protest on Jan. 31 at its new Cherry Creek office and another one this weekend, with protestors chanting “Palantir out of Denver” and “No AI for ICE.”
Palantir relocated from Palo Alto, California, to Denver in 2020, handling executive, engineering and operational tasks. It initially set up shop in the SugarCube Building before moving to the Tabor Center at 1200 17th St. In September, the company announced it would take 11,000 square feet at the Financial House at 205 Detroit St. in Cherry Creek.
When CEO Alex Karp announced the move to Denver in a 2020 letter, he said the company was leaving Silicon Valley due to cultural and ideological differences. He cited a more pragmatic environment in Denver at the time.
The company has more than 4,000 employees, according to its most recent 10-K filing, and while it hasn’t provided a precise breakout for its Denver headcount, it is estimated to be around 1,500. Many of its hires were recruited from local universities.
Karp has set a goal of growing the company’s revenues tenfold while cutting the headcount down to 3,600. He plans to do so by leveraging some of the company’s own artificial intelligence tools to boost productivity per employee.
The state legislature also passed the Colorado Artificial Intelligence Act, set to take effect this June, which is designed to regulate “high-risk” AI systems to prevent systemic discrimination. While not specifically targeted at Palantir, it would have created a stricter compliance regime for the data mining and predictive tools the company develops.
Although Colorado is a leader in quantum computing, it has lagged in artificial intelligence. The arrival of Palantir provided a big boost in AI, drawing in other companies and talent. It is unclear what its departure will mean for the state’s future in what is currently the hottest area of the tech sector.
“I’m not aware of the specific factors that led to this decision. What we do know is that Colorado’s technology economy remains exceptionally strong. According to our latest Colorado Tech Industry Report, tech accounts for 10% of statewide employment and 20% of Colorado’s GDP, and the sector has added more than 47,000 net new jobs over the past five years,” Brittany Morris Saunders, president and CEO of the Colorado Technology Association, said in an email.
She added that Colorado ranks third nationally for tech industry concentration, which is projected to grow 11.5% over the next five years. Colorado is also fifth nationally in venture capital investment.
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Three-quarters of Colorado residents said they were worried about whether they would be able to afford to continue living in the state, according to a poll conducted this spring.
Last year, about 70% of people responding to the Colorado Health Foundation’s annual Pulse poll said they weren’t sure living here would remain financially feasible. That rose to 76% this year.
“That majority concern was cutting across regions, across income levels, across racial and ethnic groups,” said Lucia Del Puppo, senior vice president at FM3 Research, which works with Democrats.
The poll found that the majority of those sampled said they had already cut back on entertainment spending and charitable giving, with smaller shares saying they’d skipped meals, delayed medical or dental care, or paid a utility bill late.
Only about one in four people said they hadn’t changed their spending or dealt with a financial setback in the last year, with older people and Republicans reporting less budget strain.
“It’s significant and it affects the overall economy” when people reduce their discretionary spending, said Lori Weigel, principal of New Bridge Strategy, which works with Republicans.
The responses suggested a significant minority expected further financial strains in the coming year:
- About two in five worried they or a family member would lose health insurance
- Three in 10 worried about affording enough food
- One-third thought they might lose their housing because they couldn’t afford their mortgage or rent
Notably, more than half of renters were worried about whether they could continue to afford their housing, Weigel said. One-third said they’d avoided asking their landlords to fix problems to avoid rent increases, and one-quarter said they’d taken on high-interest debt, such as payday loans or credit card balances, to deal with housing costs, she said.
Lower-income people and those who identified as Black, Hispanic or Native American reported greater financial struggles than other groups.
Even people who haven’t had to cut back are worried about affordability. When asked to rate the seriousness of a list of potential problems, 85% said both the general cost of living and the cost of housing were either “very serious” or “extremely serious.” Additionally, 82% said the cost of health care was a very serious or extremely serious problem.
Younger people were particularly worried about housing costs, with 94% of millennials and 90% of Generation Z members describing the problem as very or extremely serious.
At the same time, when respondents got the chance to name the most important issue facing the state, the largest share — 28% — chose government and politics. The cost of living and inflation came close behind, with 25% deeming it the top issue.
Just one year ago, only 13% of people considered cost of living and inflation their top concern, Del Puppo said.
“It has jumped really since 2025,” she said.
The two may be related, as 72% of respondents said they weren’t satisfied with the government’s response to economic issues. The only question where a slight majority said they were satisfied with the state government’s performance was making the state “safe and welcoming” to everyone, Del Puppo said.
The poll asked more than 2,200 people about their personal finances, experiences with health care and perceptions of the state between March and April, then weighted their results to represent Colorado’s demographics.
As usual, both a Democratic and a Republican firm ran the poll, to reduce the risk of bias.
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