Palantir CIO Jim Siders To Depart After 12 Years To Head Thrive Capital’s New IT Services Business

• Shield Technology Partners is a new IT Services platform backed by Thrive Holdings, a tech investment firm.
• Jim Siders will be departing Palantir after 12 years at the company, most recently as its chief information officer. 
• Shield works with seven companies, mostly small and mid-sized businesses, and is expected to generate more than $100 million in revenue this year.

Palantir Technologies Inc.’s (PLTR) Chief Information Officer, Jim Siders, will be leaving the company after 12 years to become the Chief Executive Officer at Shield Technology Partners.

Shield Technology Partners is a new IT Services platform backed by Thrive Holdings, an investment firm with stakes in tech companies such as OpenAI, Stripe, and Databricks. Shield will partner with Thrive Holdings and OpenAI to integrate artificial intelligence into its partner businesses.

According to a CNBC report, Thrive stated Shield is expected to generate more than $100 million in revenue this year and currently works with seven companies, primarily small and mid-sized businesses.

“AI is rewriting the economics of service delivery at the exact time IT service providers are rethinking how they operate," stated Siders. “Shield is this incredible combination of long-term vision, technological expertise, and operational know-how that I think makes it perfect for this moment in time. We have lightning in a bottle.”

Journey At Palantir

Jim Siders started his journey at Palantir as an IT helpdesk engineer and rose to chief information officer, overseeing global IT operations, infrastructure, and business applications in 2022.

Siders oversaw Palantir at a time when the company’s revenue grew over $4 billion. He also led the setup of a federated structure that aligned technology and data workflows more directly with business value. Shares of PLTR are up over 147% in the past year.

“Jim has been one of the early advocates for getting engineers to work directly alongside their customers,” said Anuj Mehndiratta, a member of the Thrive Holdings founding team. “He has been in the shoes of our partners and understands intuitively what their customers want.”

Palantir has yet to make an official announcement of Siders’ departure. Meanwhile, the company has announced a three-year renewal of its contract with the DGSI, France's domestic intelligence agency.

How Did Stocktwits Users React?

On Stocktwits, the retail sentiment around PLTR remained ‘neutral’ over a week, and message volume stayed at ‘normal’ levels at the time of writing.

Shares of PLTR are up over 1.8% on Monday morning at the time of writing and have surged over 148% this year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.
 

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