- Palantir will move its headquarters from Denver to Miami, citing no specific reason
- Miami aims to become the "next Silicon Valley" with a favorable tax environment
- Florida attracts billionaires and firms like Meta, ServiceNow, Citadel, and Peter Thiel
Palantir Technologies will relocate its headquarters from Denver, Colorado, to Miami, Florida, the company announced in a post on X. The move adds to a growing list of firms and billionaires shifting base to Florida, as the state positions itself as a low-tax alternative to traditional tech hubs.
Why Is Palantir Moving?
While Palantir did not specify the exact reason for the shift, Bloomberg reported that Miami's civic leadership has been actively pitching the city as the “next Silicon Valley.”
According to CNBC, Florida offers a favourable tax environment and has attracted a wave of ultra-wealthy residents in recent years. The migration comes as California considers a 5% wealth tax on individuals with assets exceeding $1 billion — a proposal that has prompted concerns among high-net-worth residents.
Billionaires, Firms Expanding in Florida
Several high-profile executives and companies have expanded their presence in the state:
- Mark Zuckerberg, CEO of Meta, has reportedly purchased property in Florida.
- Palantir co-founder Peter Thiel has established a base in Miami.
- ServiceNow announced in September 2025 that it would expand office space in West Palm Beach.
- Hedge fund Citadel, led by Ken Griffin, is also headquartered in Miami.
Founded in Palo Alto in 2003, Palantir moved its headquarters to Denver in 2020. CEO Alex Karp had defended the company's work with US government agencies in a 2020 letter to investors.
“Our company was founded in Silicon Valley,” Karp wrote. “But we seem to share fewer and fewer of the technology sector's values and commitments.”
In 2025, Palantir said it employs 4,429 full-time workers, with major offices in Palo Alto, New York, Washington, D.C., and London, along with leased space across Europe, Asia and the Middle East.
Protests in Denver
According to a report by The Guardian, Palantir's Denver office has frequently been the site of protests over its work with US federal agencies, particularly related to immigration enforcement during the administration of President Donald Trump.
The report noted that tools developed by Palantir were used by the federal government for surveillance and immigration detention efforts.
Colorado-based activists claim sustained pressure contributed to the company's departure. Juan Sebastian Pinto, a former Palantir employee and organiser for AI regulation in Denver, said:
“Colorado has rejected the values of Palantir – the values of an economy built on exploitation of people's data, whether it's for warfare or for immigration enforcement.”
In recent months, Palantir has attempted to distance itself from the administration's immigration apparatus, but protests continued.
With major companies and billionaires relocating south, Miami's ambitions to emerge as a major technology and finance hub are gaining traction — raising fresh questions over whether Florida could rival Silicon Valley in the years ahead.
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