CEO of Palantir Technologies Alex Karp attends the Pennsylvania Energy and Innovation Summit, at Carnegie Mellon University in Pittsburgh, Pennsylvania, U.S., July 15, 2025.
Nathan Howard | Reuters
President Donald Trump lauded Palantir in a post to Truth Social on Friday as the artificial intelligence software stock headed for a 15% weekly plunge.
“Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment,” Trump posted on the social media platform. “Just ask our enemies!!!”
Palantir’s stock has benefited since the U.S. began strikes on Iran in late February. The military is reportedly utilizing its AI-powered Maven Smart System platform to identify targets in the Middle East.
Over the years, CEO Alex Karp vocally supported America’s military and equipping warfighters with the best possible tools.
Despite previous critiques of Trump and past donations to President Joe Biden’s campaign, Karp has supported the new administration and its policies. The company’s contracts include deals with the Pentagon and U.S. Immigration and Customs Enforcement.
Palantir is also tied to AI lab Anthropic, which was blacklisted by the Department of Defense blacklist after raising concerns about the use of its tools for autonomous weapons and government surveillance. Palantir uses Anthropic and tools from other AI labs on its platform.
Karp told CNBC last month that the company would “phase out” Anthropic’s models, but has not done so yet.
In recent months, famed short-seller Michael Burry has targeted the stock, along with other AI names.
Burry raised concerns over Palantir again this week, writing in a now-deleted post that Anthropic is “eating Palantir’s lunch.”
Once again, Burry wrote about the company on Friday following Trump’s post.
“The stock may catch a wind here,” he wrote in a Substack post. “It has been selling off with software stocks. As mentioned, I continue to hold the puts, as I believe the fundamental value of this company is well under $50/share.”
After this week’s slump, which deepened following Trump’s post, the stock is trading at about $127.40.
