America
Trump’s class alliances: Which companies are profiting from ICE operations?
Operations conducted by Immigration and Customs Enforcement (ICE) units across the United States offer significant clues regarding the “class alliances” underpinning Donald Trump.
Institutions including companies like Palantir and Deloitte have reaped more than $22 billion in total earnings from contracts with agencies situated at the center of the aggressive immigration measures Donald Trump implemented over the past year.
As reported by the Financial Times (FT), consultants, technology groups, charter airlines, and a wall construction company managed by a presidential ally were among the primary beneficiaries of the surge in spending by ICE and Customs and Border Protection (CBP).
This funding bonanza began following Trump’s inauguration for a second term last January and has accelerated since the enactment of the “big, beautiful bill” in July.
According to the FT’s analysis of government contracting data, the data intelligence group Palantir has secured $81 million in contracts from ICE since January 2025.
Consultancy firm Deloitte, meanwhile, obtained more than $100 million in new contracts from ICE and CBP during the same period.
Regional companies secure major contracts
The Fisher Sand & Gravel group, led by Republican donor Tommy Fisher—which signed a contract to construct sections of a wall on the southern US border—became the top earner from CBP contracts, generating over $6 billion in revenue since July.
The single largest beneficiary of ICE contracts was CSI Aviation, a company organizing charter flights for the agency. This firm has secured over $1.2 billion in business since Trump returned to office last January.
These windfalls coincide with a period in which ICE spending on contracts more than doubled in the two quarters following the passage of Trump’s historic legislation, rising from $1.5 billion in the previous six months to $3.7 billion.
CBP spending on private sector companies increased sevenfold between the first and second halves of 2025. The agency reported $2 billion in new contract work this month alone—a sum exceeding the total for the entire first half of 2025.
Much of the agencies’ contracting is for routine work, such as modernizing IT systems or providing outsourced data center staffing, often stemming from previous administrations.
Palantir building a “self-deportation tracking” system
However, other contracts relate to new tactics employed by the Trump administration to identify, detain, and deport undocumented immigrants, or to encourage them to “self-deport.”
Palantir, which has held contracts with the agency for over a decade, signed a $30 million deal in April to build an operating system to be used for “self-deportation tracking,” according to a federal contract announcement.
The company also signed a contract to provide tools intended to “facilitate operations for the selection and apprehension of illegal aliens.”
Palantir CEO Alex Karp had previously dismissed concerns regarding the group’s work for the US government.
Karp stated last year:
“I will use all my influence to ensure this country remains skeptical on immigration and possesses a deterrent capacity. Do we have to pretend that having borders is immoral?”
AI-based language models in the service of immigration enforcement
According to the 2025 DHS AI Use Case Inventory published by the US Department of Homeland Security (DHS), ICE has been using Palantir’s AI products to process large volumes of civilian reports since May of last year.
This tool, named the “AI-Enhanced ICE Report Processor,” utilizes large language models (LLMs) to summarize or categorize received reports and offers functionality to translate reports received in non-English languages into English.
The “Advanced Lead Identification and Enforcement Target Selection” tool, which ICE has utilized since June of last year, was also purchased from Palantir.
This tool, known by the acronym “ELITE,” uses artificial intelligence to identify leads—such as the addresses of enforcement targets, including for deportation—and allows agents to share this information.
It has also been revealed that ICE uses Palantir-based generative AI for internal developers’ code writing and system administration.
Anduril’s surveillance towers in the “Big, Beautiful Bill”
Trump’s legislation also mandates that all new border surveillance towers be certified as “autonomous.” According to a report published in The Intercept last July, only Anduril’s “towers” meet this requirement.
Signed into law by President Trump on July 4th, this bill provides significant spending increases for military and law enforcement projects, including over $6 billion for various border security technologies.
These initiatives include the expansion of the “virtual wall”—a growing network of sensor-equipped surveillance towers along the US-Mexico border. On this border, computers are increasingly assuming the task of detecting and apprehending migrants.
Anduril began its operations by selling software-backed surveillance towers to CBP. The company promotes its “Sentry Tower” series for its “autonomous” capabilities, which use machine learning software to constantly scan the horizon and detect potential objects of interest (such as people, vehicles, or animals attempting to cross the border) without the need for human manpower to monitor sensor data.
Thanks to bipartisan support for the vision of locking down the border with computerized eyes, Anduril has become a dominant player in border surveillance, surpassing incumbents like Elbit and General Dynamics.
Indirect support from Big Tech
Deloitte, one of the largest public sector contractors in the US, accepted recent contract updates providing further funding for “law enforcement systems and analytics for enforcement and removal operations.”
Its contracts also contain updated provisions for “internet research and data analysis support services” for ICE’s target identification operations division.
Many major technology companies do not contract directly with the federal government, but their products and services are offered through vendors, making it difficult to determine the financial benefits they derive from the funding surge.
Amazon and Microsoft, the world’s two largest cloud groups, provide services worth at least $75 million and $93 million, respectively, to US agencies.
These services are primarily provided through third-party vendors such as Dell Federal Systems.
In September, ICE awarded a $24 million contract to a third party to provide “hosting support” for services offered by Amazon’s cloud division.
Additionally, it paid Dell $19 million for Microsoft enterprise licenses.
Smaller tech groups, such as Motorola Solutions, have also signed contracts with ICE.
The Illinois-based group holds $19 million in contracts in its own name, while a third-party vendor won a $260 million contract to provide Motorola radios and batteries to personnel involved in enforcement actions.
Furthermore, AI technologies from various major tech companies are being utilized. ICE used a GPT-4 based AI tool from OpenAI to review resumes for recruitment.
AI technologies from Meta, Google, OpenAI, and Anthropic are also in use.
Land and warehouses for new prisons
Despite protests in small towns and cities across the US, the Trump administration continues to purchase warehouses it plans to convert into immigrant prisons as part of a project that could represent the largest expansion of detention capacity in US history.
According to Bloomberg, the cost of purchasing just two warehouses was $172 million. A third warehouse in El Paso, Texas, could become one of the largest prisons in the country with a capacity of 8,500 beds once completed as planned.
These deals mark the latest development in ICE’s plan to utilize 23 warehouses to detain thousands of immigrants arrested by federal agents in Minneapolis and other cities.
On January 16, according to a local court filing, the administration paid $102 million for a plot of land near Hagerstown, Maryland. A week later, the government paid $70 million in cash for a warehouse in Surprise, Arizona.
The prices, which are roughly in line with the industry average for the warehouse market, cover the purchase of these currently vacant spaces.
ICE must pay companies to equip the buildings with toilets, showers, beds, dining, and recreation areas, and subsequently to operate them as detention centers.
The warehouses, most of which were originally designed and marketed as e-commerce distribution facilities, are crucial to the administration’s $45 billion construction of immigrant detention facilities.
In recent weeks, the federal government has toured potential sites in more than 20 cities with companies and shared designs with them, including preferred layouts for at least 15 locations.
According to sources speaking to Bloomberg, companies that will convert these warehouses into prisons have been asked to submit bids for the initial locations, starting with Hagerstown.
The pattern is evident here as well: For instance, in Salt Lake City, the warehouse designated by ICE as a future “mega-center” prison is owned by the Ritchie Group, a local family business.
Following pressure from protesters arriving at their offices, the company announced it had “no plans to sell or lease the property in question to the federal government.”
Meanwhile, KPB Services, the company that won the tender for the design to convert warehouses in Kansas into detention centers, appears to be a shell company.
ICE has increased detention capacity by leveraging long-standing relationships with private prison companies such as CoreCivic and Geo Group. These companies have provided ICE access to additional beds in their existing prisons, purchased and leased new facilities, and reopened shuttered ones.
In earnings calls held in November, these companies stated they could make a total of more than 30,000 beds available should the federal government request them.
British firms among the beneficiaries
Subsidiaries of several prominent UK-based companies have also secured active contracts with these agencies. British private security firm G4S has signed contracts worth $68 million with ICE since January 2025.
These contracts primarily cover providing “ground transportation services” for detainees during enforcement and removal operations.
Smiths Detection, a unit of the London Stock Exchange-listed Smiths Group that manufactures screening and detection technology for border control, has earned over $62 million from CBP contracts during Trump’s second term.
Smiths stated that it provides “threat detection and security screening technologies for ports and borders that curb illegal activity.”
Regional family businesses, Republican donors, Silicon Valley alliance
John Ganz, who closely examined the companies benefiting from ICE and CBP contracts on the Unpopular Front blog, offers significant clues regarding the alliances behind the Trump administration.
According to Ganz, while there are a few publicly traded and venture capital-funded firms, the largest beneficiaries exhibit a striking pattern: They are all regional family businesses displaying dynastic characteristics and are significant donors to the Republican Party.
Moreover, these regional companies have been involved in legally dubious practices. For example, Fisher Sand & Gravel, which sits at the top of the list, is owned by the Fisher family living in Dickinson, North Dakota.
The Fisher family makes generous donations to Republicans, and President Tommy Fisher frequently appears as a guest on conservative TV and radio programs.
The Fisher company’s history includes accusations of environmental violations, questionable labor practices, and, most notably, fraud.
In 2009, Fisher’s then-owner Michael Fisher pleaded guilty to nine counts of tax fraud and was sentenced to 37 months in prison and ordered to pay over $300,000 in restitution.
The company’s former CFO Amiel Schaff and former auditor Clyde Frank were also each found guilty of one count of conspiracy to defraud the US in 2009.
Under a 2009 agreement with the Department of Justice, the company was required to pay a total of $1.16 million in restitution, penalties, and fines, implement measures to prevent future fraud within the company, and cooperate with the IRS in the audit of tax returns.
Another former president of the company, David William Fisher, was found guilty in 2005 of possessing child pornography involving a 10-year-old child and was sentenced to 10 years in prison.
In exchange for his guilty plea, charges of sexual abuse of a minor were dropped, and he was released on April 30, 2010.
According to Ganz, companies further down the list, such as SLSCO, CSI Aviation, and Barnard Construction, fit this same model: regional, closely-held companies that are, so to speak, “politically integrated.”
Scholar Melinda Cooper, cited by Ganz, points to the tension between private, unincorporated, family-based companies and corporate, publicly traded, shareholder-owned companies.
According to Cooper, “family-based” capitalism, which finds representation in the White House with Trump, extends from the smallest family businesses to the vastest dynasties and is essentially shaped by the alliance between the two.
Trump also belongs to this “social class”: a representative of companies whose business methods are “informal”—or, to put it more bluntly, often outright criminal.
Ganz concludes his piece as follows:
“When you add in the presence of [Peter] Thiel-backed firms like Anduril, you start to understand the material basis of the Trump coalition. It is an alliance of family-based regional crony capital and a reactionary section of the tech sector focused on defense and security. Add to that ICE’s function as a jobs program for the Trumpenproletariat gang and all the illiterate influencers, and voila, you get the class composition of real American fascism, which is characteristically a protection racket. It is a gang all the way down.”
America
US wealthy demolish multimillion-dollar mansions for land
Wealthy buyers in the US are tearing down multimillion-dollar homes shortly after purchasing them for hundreds of millions of dollars.
According to a report by The Wall Street Journal, the trend is driven by a shortage of land in prestigious locations, particularly along coastlines.
For ultra-wealthy buyers, the prime factor has become the land’s location rather than the structure standing on it. After the acquired properties are flattened, newer, more modern homes are built on the cleared lots.
Drawing attention to the shift in the luxury real estate market, the report noted:
“The home itself, formerly the primary driver of an expensive real estate purchase, is now almost beside the point. Buyers are competing first and foremost for well-located land, situated on the ocean or a mountaintop.”
The newspaper cited moves by US billionaire William Lauder as an example. Lauder purchased the oceanfront estate of radio host Rush Limbaugh, who died in March 2023, for $155 million and had it completely demolished in July.
Lauder had previously torn down two homes situated on roughly 1.2 hectares of land along the Palm Beach coast. Having initially planned to construct his own residence on the parcel, Lauder subsequently sold the cleared plot for approximately $200 million.
Jonathan Miller, a real estate appraiser, stated that such transactions are becoming increasingly common as land prices rise.
Amid this momentum, estate agents have also begun marketing luxury homes directly as teardown lots.
Listings use artificial intelligence-generated imagery to showcase how the land would look without the structures on it.
Marketers avoid using the word “demolition” directly, resorting instead to terms such as “adaptive reuse”.
Teardown listings rise across luxury housing market
The trend is not confined to the coast and is spreading to other regions across the US.
Data from property brokerage Redfin reveals that references to demolishing buildings are becoming more frequent in sales listings.
The share of such listings exceeds 15% in the Bunker Hill Village area of Houston, while standing at 6.67% in Pimmit Hills, Virginia.
Dina Goldenteyer, a real estate agent working in Miami, remarked that serial demolitions have become more frequent because buyers no longer appreciate homes older than a decade.
Former retail executives Jamie Dooley and Christine Scott spent $3.7 million in 2020 to demolish a seaside home near Destin, Florida.
Although the couple spent five years building a modern home on the cleared site, they listed the resulting new structure with a demolition condition, citing the fact that no one wanted to buy the property as it stood.
William Paddock, an employee at the environmental consultancy WAP Sustainability, pointed to the environmental damage caused by this construction cycle.
Paddock emphasized that tearing down a home of roughly 1,000 square metres and replacing it with a new building of approximately 2,700 square metres generates a carbon footprint equivalent to the annual emissions of an average 250 American households.
America
US inflation reaches 3.7% as midterm election campaign intensifies
An uptick in September inflation as the US midterm elections approach has pushed the cost-of-living debate back to the centre of the agenda for Democrats seeking to regain control of Congress from Republicans.
Annual inflation stood at 3.7% in September, according to the Consumer Price Index published by the Bureau of Labour Statistics, with energy, petrol, and electricity costs rising on a monthly basis.
Food prices remained flat from August to September, recording a 2.5% increase compared with the same period last year.
Democrats are anchoring their election campaigns to pledges of easing the cost of living, blaming the price increases on President Donald Trump’s tariffs and the war with Iran.
Trump and Republicans, pointing to the numerous left-wing candidates who won primary elections this year, contend that the opposition has become captive to “communists” within the party.
When annual inflation stood at 2.4% in February, the US and Israel launched the Iran war on the final day of that month, and prices continued to climb throughout the conflict.
The recent acceleration has not entirely reversed the retreat from the 40-year peak of 9.1% recorded in June 2022; however, the rate has remained above the Federal Reserve’s 2% target for over five years.
Fed policymakers raised the benchmark interest rate by a quarter of a percentage point last month, citing the battle against stubborn inflation. Officials will convene again next week to consider whether to raise rates or hold them within the 3.75% to 4% target range.
Energy and fuel record sharpest increase since first month of war
In September, energy prices posted their largest monthly jump since March, the first full month of the war with Iran, climbing 20.4% year-on-year. Energy costs had risen 2.1% from July to August, after falling 1.5% from June to July and 5.7% from May to June.
Recent escalations in Iranian attacks on oil tankers in the Strait of Hormuz, alongside more frequent strikes by Ukrainian forces against Russian refineries, have strained global crude oil and refined product markets, driving up US petrol and diesel prices.
Petrol prices also recorded their sharpest monthly increase since the first month of the war, climbing 9.1% from August to September, bringing the annual increase to 35.3%.
American Automobile Association (AAA) data shows the average price of regular petrol across the US stands at $4.26 per gallon; while below the level of roughly $4.48 recorded a month ago, it remains more than $1.20 higher than a year earlier. Average gallon prices exceed $6 in California and $5 in both Washington state and Nevada.
Electricity prices rose 0.2% from August to September, offsetting the 0.2% decline between July and August, and were up 4.4% year-on-year.
Heavy power demand from new data centres is feeding through into local household electricity bills. Trump argued that companies must cover the cost of the electricity required by their data centres themselves.
In a post on Truth Social, Trump claimed that he was requiring large data centres to generate their own power and feed the surplus back into the local grid, suggesting this could bring about “a major drop” in electricity prices.
Used vehicle market posts monthly rise as food costs stabilise
The cost of food at home fell 0.1% month-on-month in September, while dining out increased 0.2%.
Egg prices dropped to $2.27 a dozen, falling roughly 35% compared with September 2025 and remaining well below the 20-year peak of $6.23 recorded in March 2025.
Ground beef prices rose roughly 2.4% compared with September 2025, but at $6.48 a pound, they remained below the 20-year high of $6.98 reached in June.
Chicken held steady at its year-earlier level of $2.06 per pound last month, having fluctuated between $2.01 and $2.09 since November 2024.
Used car and truck prices fell 1.5% compared with September 2025, but rose 0.7% month-on-month in September following 0.4% increases in both July and August.
Heather Long, chief economist at Navy Federal Credit Union, noted that the sector faces severe pressure stemming from a combination of expensive replacement parts and a shortage of skilled labour.
Speaking to The Hill, Long emphasised that every cost pressure across the market is being felt directly at local auto repair shops.
America
Anthropic posts $80.7bn loss ahead of IPO as computing costs soar
Anthropic, developer of the artificial intelligence model Claude, reported a net loss of $80.7 billion for the first six months of 2026 ending 30 June.
According to a report by The Wall Street Journal citing the company’s draft initial public offering prospectus, this recorded loss nearly doubled the $42 billion loss incurred across the entirety of 2025.
The vast majority of that enormous figure, accounting for $72 billion, stemmed from accounting-driven book-value write-downs.
In contrast, the company saw a sharp surge in revenue, with turnover in the first half of the year climbing to $16.3 billion from $1.1 billion in the same period of the prior year.
During this period, Anthropic spent approximately $9 billion on computing power and infrastructure needs, surpassing in just six months the $7.3 billion spent across the whole of 2025.
The company has commitments to pay roughly $450 billion over the next seven to 10 years under cloud service contracts.
Under these obligations, contracts are planned for $111 billion with Google Cloud, $110 billion with Amazon Web Services, and $31 billion with Microsoft.
Anthropic will also spend up to $86 billion by 2033 and 2034, respectively, to lease Nvidia chips through smaller AI-focused cloud providers Nscale and Lambda.
The company could spend an additional $750 billion in the coming years to expand its computing capacity.
Roughly a third of the draft IPO prospectus was dedicated directly to risk factors.
The document highlighted the possibility that models could cause tangible real-world harm, noting that artificial intelligence could exhibit a “self-preservation” tendency and produce responses resembling “blackmail”.
Anthropic warned that the scale of damage caused by an AI-driven “catastrophic event” could render insuring against such risks impossible.
According to market expectations, Anthropic’s IPO could rank among the largest transactions in history, potentially surpassing SpaceX’s record.
Following the market debut, the company’s market valuation is projected to reach up to $2 trillion.
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