Palantir did disclose an 8.7% stake in Faraday Future, but it did not simply make a new bet on nearly 9% of the EV company in October 2024. The position was created mainly when Faraday issued shares to settle unpaid obligations to Palantir after the companies’ commercial relationship broke down.
Palantir’s original relationship with Faraday was real: it invested $25 million in the company in 2021 and signed a software agreement. But the later ownership figure was largely a settlement outcome. The 8.7% figure was a snapshot as of October 2, 2024—not a verified current ownership percentage.
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The headline needs two important qualifications. First, Palantir’s October 2024 filing said that 827,526 of the 1,080,294 Faraday Future shares it held were received as payment for receivables. That is different from buying 8.7% of the company in a fresh open-market investment.
Second, the 8.7% calculation has aged. Faraday issued large numbers of additional shares after that disclosure, and its June 2026 special-meeting proxy did not list Palantir among holders known to own more than 5%. That does not prove Palantir sold, but it means the old percentage should not be presented as current.
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The original deal combined an investment with a software relationship
Palantir’s 2021 Form 10-K listed Faraday Future among the companies in which Palantir invested during the year. The filing reported 2.5 million shares purchased for a $25 million investment.
Faraday’s later regulatory filings described a July 2021 Master Subscription Agreement, or MSA, under which Palantir’s platform was intended to serve as a central operating system for Faraday’s data and analytics. In practical terms, Palantir was both a financial participant and a technology vendor.
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Palantir’s 2021 10-K also reported $48.3 million in revenue from commercial contracts for the year. However, the filing did not independently identify how much of that revenue came from Faraday Future. The figure should therefore not be treated as Faraday-specific revenue.
How the business relationship turned into a payment dispute
The commercial relationship later deteriorated. Faraday’s 2025 Form 10-K said Palantir notified Faraday in April 2023 of a dispute involving $12.3 million in unpaid invoices.
In July 2023, Palantir filed an arbitration demand stating an amount in controversy of $41.5 million. Those two figures describe different points in the dispute and should not be casually treated as the same invoice balance: $12.3 million was the amount identified in the notice concerning unpaid invoices, while $41.5 million was the amount in controversy in the arbitration proceeding.
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The companies reached a settlement and release agreement on March 11, 2024. Under that agreement, Faraday agreed to pay $5 million, including a late-payment provision. The settlement also terminated the MSA and included mutual waivers and releases. After the settlement obligations were performed, the dispute was fully resolved and Palantir filed a dismissal.
That termination matters. The settlement did not merely revise the price of an ongoing software partnership. It ended the MSA and the dispute between the companies. Nothing in the filings reviewed here supports describing Faraday as a current Palantir customer.
The 2024 shares came from the amended settlement
On August 9, 2024, the companies amended the settlement. Rather than paying the remaining $4.8 million entirely in cash, Faraday agreed to issue $2.4 million of Class A common stock by August 9 and another $2.4 million by October 1.
Faraday’s filing said the August installment totaled approximately 11.1 million shares on the then-applicable share basis. Those shares were registered for resale. Registration meant Palantir had a path to resell the shares; it did not establish that Palantir actually sold them.
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1Fix the driver behind crashes, sound loss and screen glitches2Repair Windows errors before they cause bigger problems3Scan for outdated or missing drivers - takes under a minuteThe second installment is the key detail in Palantir’s Schedule 13G. Palantir reported that it held 1,080,294 Faraday shares as of October 2, 2024, and specifically disclosed that 827,526 shares had been received that day as payment for outstanding receivables. The filing calculated the position at 8.7% of Faraday’s Class A common stock.
In other words, the October ownership filing was primarily the result of a creditor receiving equity under a settlement. It was not evidence that Palantir had just spent cash to acquire nearly 9% of Faraday because it expected the EV startup’s business to take off.
Why the reverse split made the position look so large
Faraday effected a 1-for-40 reverse stock split effective August 16, 2024. In a reverse split, every 40 shares become one share. The transaction reduces the number of shares outstanding and adjusts existing holdings, while the economic value is intended to be unchanged immediately by the split itself.
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The timing created an unusual share-count effect:
- Faraday’s older shares were adjusted for the 1-for-40 reverse split.
- The first stock installment under the amended settlement was issued around the time of the split and was described on the then-applicable share basis.
- The second $2.4 million stock installment was issued after the reverse split.
- Because the second installment was issued into a much smaller post-split share structure, it represented a large percentage of the remaining Class A shares.
This is why the raw percentage can be misleading. The nearly 9% figure was not necessarily the result of Palantir accumulating shares over time in a conventional investment campaign. It was the product of the settlement terms, the timing of the stock issuance, and Faraday’s shrinking share base.
Share counts from the 2021 investment and the October 2024 Schedule 13G also cannot be compared without accounting for the reverse split. A pre-split share count is not equivalent to a post-split share count.
Was Palantir trying to take control?
The available filing evidence does not point to an announced control campaign.
Palantir filed a Schedule 13G rather than a Schedule 13D. A Schedule 13G is generally associated with passive ownership reporting, while a Schedule 13D is used when an investor may be seeking to influence or change a company’s management, board, or strategy. Palantir reported sole voting and dispositive power over the shares.
A 13G filing is not an absolute guarantee that an investor will never seek influence. But in this case, the filing is consistent with a passive ownership position. There was no announced activist campaign, takeover effort, or plan to direct Faraday’s operations.
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That conclusion is an evidence-based inference, not a stated explanation from Palantir. The filings do not say that Palantir believed Faraday was undervalued, expected it to succeed, or wanted a strategic ownership stake.
Is Palantir’s 8.7% stake still current?
It cannot be confirmed from the filings reviewed here. The 8.7% figure applies to Palantir’s reported holdings as of October 2, 2024 and to the share-count circumstances surrounding that filing. It should be labeled a historical disclosed stake.
Ownership-status checkpoint
- Reported October 2, 2024: Palantir held 1,080,294 Faraday Future shares.
- Shares received that day: 827,526 were identified as payment for outstanding receivables.
- Reported ownership: 8.7% of Faraday’s Class A common stock.
- Later capital structure: Faraday’s June 2026 proxy reported 346,155,245 Class A shares outstanding as of June 17, 2026, along with additional warrants, preferred securities, options, restricted stock units, and convertible-note exposure.
- Holder table: The proxy listed no holder known to own more than 5%; Palantir was not listed.
The proxy does not prove that Palantir sold its shares. It does establish that Faraday’s denominator and capital structure changed materially and that the company did not identify Palantir as a holder above 5% in that proxy’s ownership table.
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Faraday’s 2025 Form 10-K helps explain why the percentage may have changed. The company reported issuing 117,784,999 Class A shares through debt conversions during 2025, compared with 62,141,799 such shares in 2024. If Palantir had continued to hold exactly 1,080,294 shares and those shares were compared simply with 346,155,245 Class A shares, the arithmetic would be roughly 0.31%. That is only an illustration, not a verified current ownership figure: Palantir’s actual holdings, Faraday’s applicable ownership denominator, and other securities must all be confirmed from a current filing.
If you want to follow this kind of story rather than rely on a stale headline, a financial-data or SEC-filing tracking platform can help you track ownership filings, compare share counts, and spot new dilution disclosures. That is a research convenience—not evidence that either stock is attractive—and any service should be checked for current coverage and pricing.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Faraday Future changed significantly after the disclosure
The ownership story cannot be separated from Faraday’s financial condition. Faraday’s 2025 Form 10-K reported just $536,000 of revenue and a net loss of $386.592 million for 2025. The company also continued to use financing transactions that created substantial dilution.
Those figures do not establish why Palantir accepted stock, and they do not predict what Faraday’s vehicles or broader strategy will ultimately achieve. They do show why a settlement involving equity could have been a practical way to resolve an obligation in a company under significant financial pressure.
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Faraday’s public-company identity also evolved. Its shares began trading under the FFAI ticker in March 2025, replacing FFIE. In its June 2026 special-meeting proxy, the company proposed changing its legal name from Faraday Future Intelligent Electric Inc. to Faraday Future Physical AI Ecosystem Inc. to reflect a broader focus on AI-enabled mobility, physical AI, and embodied-intelligence initiatives.
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The proposed name change was not the same thing as a completed change, so it should be described as a proposal unless a later corporate filing confirms adoption. More broadly, the repositioning highlights how different the company’s identity and capital structure had become by the time of the later proxy.
What the headline does—and does not—tell us
| Headline interpretation | What the filings support |
|---|---|
| Palantir bought nearly 9% of Faraday in October 2024. | Palantir disclosed an 8.7% position, but 827,526 shares were received as payment for receivables under a settlement. |
| Palantir currently owns 8.7%. | The 8.7% figure is tied to October 2, 2024. Later dilution and the absence of a newer reviewed ownership filing make the current percentage unestablished. |
| Palantir is an activist or controlling shareholder. | Palantir filed a Schedule 13G and reported sole voting and dispositive power, with no announced control campaign in the evidence reviewed. |
| Palantir and Faraday still have a software partnership. | The 2024 settlement terminated the MSA and resolved the dispute after the settlement obligations were completed. |
| Palantir accepted the shares because it expects Faraday to succeed. | The filings show settlement consideration for receivables. They do not state Palantir’s investment thesis or motive. |
The better way to describe the stake
The most accurate description is that Palantir disclosed an 8.7% Faraday Future position in October 2024 after receiving shares in settlement of unpaid obligations. That position grew out of a 2021 investment and software partnership, but the later shares were mainly a debt-collection and contract-settlement result.
The reverse split amplified the percentage, while later debt conversions and other capital-raising activity changed Faraday’s denominator again. For readers trying to understand what happened, the ownership percentage is less important than the chain of events that produced it.
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This is also the broader lesson for distressed public companies: a large ownership percentage can arise from settlement mechanics, reverse splits, and a shrinking or expanding share count. It does not automatically represent a fresh strategic investment, a vote of confidence, or an attempt to control the company.
Filings behind the timeline
- Palantir’s 2021 Form 10-K, which reported the $25 million Faraday investment and 2.5 million shares.
- Palantir’s Schedule 13G covering its Faraday Future position as of October 2, 2024.
- Faraday Future’s 2025 Form 10-K, which described the invoice dispute, arbitration, settlement, stock installments, MSA termination, dilution, 2025 revenue, and net loss.
- Faraday Future’s June 2026 special-meeting proxy, which reported the later Class A share count, ownership table, securities overhang, ticker history, and proposed name change.
Frequently Asked Questions
Did Palantir buy 8.7% of Faraday Future in 2024?
Not in the ordinary sense suggested by that wording. Palantir reported receiving 827,526 Faraday Future shares on October 2, 2024 as payment for outstanding receivables. Its total reported holding was 1,080,294 shares, calculated at 8.7% of the Class A common stock.
Why did Faraday Future issue shares to Palantir?
The shares were part of an amended settlement of a dispute over unpaid Palantir invoices. The companies originally agreed to a $5 million settlement, then amended the remaining $4.8 million cash obligation in August 2024 so that $2.4 million would be paid in stock by August 9 and another $2.4 million in stock by October 1.
Does Palantir still own 8.7% of Faraday Future?
That has not been established by the filings reviewed here. The 8.7% figure was reported as of October 2, 2024. Faraday later issued many additional shares, and its June 2026 proxy did not list Palantir among holders known to own more than 5%. That does not prove a sale, so the current percentage remains unconfirmed.
Is Palantir still a Faraday Future software partner?
The companies’ Master Subscription Agreement was terminated as part of the March 2024 settlement and release. The available filings therefore do not support describing Faraday as a current Palantir customer or implying that the original software relationship remains active.
The Bottom Line
Bottom line: Palantir’s nearly 9% Faraday Future position was primarily a settlement artifact. Palantir had made a genuine $25 million investment in 2021, but the October 2024 8.7% disclosure largely reflected shares received after Faraday disputed and settled unpaid obligations. The reverse split magnified the percentage, while later dilution made it unreliable as a current ownership figure.
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