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Palantir now owns nearly 9% of EV startup Faraday Future — here’s why
Palantir now owns 8.7% of struggling electric vehicle startup Faraday Future, according to a new filing with the U.S. Securities and Exchange Commission.
Palantir now owns 8.7% of struggling electric vehicle startup Faraday Future, according to a new filing with the U.S. Securities and Exchange Commission. The data-mining company was granted more than 800,000 shares in the EV startup on October 2 “as payment for certain outstanding receivables” — the equivalent of roughly $2.4 million judging by Faraday Future’s stock price on that day. Faraday Future was one of many EV startups that hopped on the special purpose acquisition company (SPAC) craze happening at the time.
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