Shares in Palantir rose on Friday after Donald Trump hailed its “great war fighting capabilities and equipment”, days after famed short seller Michael Burry knocked the stock by saying it would lose out to AI start-ups.
The data intelligence group’s stock rallied as much as 5 per cent after the US president’s post, which included Palantir’s Nasdaq ticker. Its share price closed 1.8 per cent lower on the day in a bruising week of trading.
Burry — made famous by the film The Big Short for his bet against the US housing market ahead of the 2008 financial crisis — this week claimed AI start-up Anthropic was “eating Palantir’s lunch”, in a post he has since deleted. He had already disclosed a large bet against Palantir’s stock.
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