Overview
- Shares fell roughly 15% for the week after setting a record high, with CEO Alex Karp labeling short‑selling activity “market manipulation” and specifically criticizing Michael Burry in CNBC interviews.
- Palantir posted third‑quarter revenue of $1.18 billion, up 63% year over year, with about $476 million in GAAP net income and higher full‑year guidance.
- U.S. commercial sales jumped 121% to $397 million while U.S. government revenue rose 52% to $486 million, underscoring rapid adoption of its Artificial Intelligence Platform.
- SEC filings showed Burry’s Scion Asset Management holding put options totaling about $1.1 billion in notional value against Palantir (~$912 million) and Nvidia (~$186.6 million), intensifying debate over valuation; Wedbush set a Street‑high $230 target in a bullish counterpoint.
- AI leaders sold off across the board this week, with reports of nearly $1 trillion in market value erased from major tech names and Nvidia on track for a weekly drop of more than 10%.