Alex Karp, CEO of Palantir Technologies, attends the Pennsylvania Energy Innovation Summit held at Carnegie Mellon University in Pittsburgh, Pennsylvania, USA on July 15, 2025.
Nathan Howard | Reuters
President Donald Trump also praised Palantir he said in a post on Truth Social on Friday, after artificial intelligence software stocks fell 14% in their worst week in a year.
“Palantir Technologies (PLTR) has proven itself to be superior in combat capabilities and equipment,” President Trump posted on social media platforms. “Ask the enemy!!!”
The U.S. military is reportedly using Palantir’s AI-powered Maven smart systems platform to identify targets in the Middle East related to attacks on Iran that began in late February. Palantir relies on governments, including the Department of Defense and Immigration and Customs Enforcement, for more than half of its U.S. revenue.
CEO Alex Karp has long been a vocal supporter of the U.S. military, equipping warfighters with the best tools possible. Despite his past criticism of Trump and donations to President Joe Biden’s campaign, Karp has supported the new administration and its policies.
Karp regularly defends Palantir when it is criticized for providing tools to surveil immigrants and Americans. He previously told CNBC that his outspoken support for Israel in the wake of the Oct. 7 attack by Hamas also led to some employees leaving.
Last October, Palantir’s head of communications, Lisa Gordon, said in an interview at an event hosted by The Information that the company’s political shift toward the Trump administration was “concerning.” The video was quickly removed from The Information’s YouTube and social media pages.
Palantir also has ties to Anthropic, an AI lab that was blacklisted by the Pentagon after raising concerns about its use of autonomous weapons and tools for government surveillance. Palantir uses models from Anthropic and other AI labs on its platform.
Karp told CNBC last month that Palantir would “phase out” Anthropic’s model, but has not done so yet.
Software stocks sold off this week after Anthropic released a new Mythos model in limited capacity, citing concerns about potential exploitation by hackers. Concerns about new AI tools displacing traditional software models have plagued the industry in recent months.
Michael Barry, a well-known short seller, has been targeting the stock recently, along with other AI names. In a since-deleted post this week, Berry wrote that Anthropic was “eating Palantir lunch.”
Burley wrote about the company again in response to Trump’s post on Friday.
“There may be some wind in the stock here,” Barry wrote in a post on Substack. “It’s been sold along with software stocks. As I said, I continue to hold the puts because I believe the fundamental value of this company is well below $50 per share.”
The stock is trading at about $126, following a decline this week that worsened on the day of President Trump’s post.
WATCH: Palantir CEI says AI is improving U.S. wartime capabilities
