The company announced it has given the U.S. Securities and Exchange Commission its confidential initial registration. (The Logic)

Talking point: Palantir has yet to announce whether it will conduct an initial public offering, which involves issuing new shares, or a direct listing, which favours existing investors who want to sell some of their holdings. Many have been waiting a long time. Palantir is now 16 years old, making it one of the longest-running private companies with a multi-billion-dollar valuation in Silicon Valley, and CEO Alex Karp has been hinting at a public listing since at least 2016. The company is currently mid-raise on a private US$961-million equity sale, which could limit its short-term need for new funding—especially if it breaks even this year, as it has reportedly told investors it expects to.