Palantir Technologies (PLTR) showed sudden recovery on Friday, after days of decline. It was an endorsement from President Donald Trump that appeared to work for the software company. The stock had come under pressure earlier in the week, falling more than 15% over five days amid concerns triggered by Anthropic’s latest product, Mythos. The stock has slumped 37% from its record closing high from November.
What did Trump say?
In a post on Truth Social, Trump wrote: “Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment. Just ask our enemies!!!”
Immediately after the president’s statement, Palantir’s stock reversed a session low, rebounding from as much as 6% down on Friday to about 1.4% down at $128.62 at the time of writing this story.
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Interesting Anthropic angle
Analysts addressed speculation about Palantir’s stock and Anthropic.
Wedbush analyst Dan Ives, as per Investing.com, said: “Palantir has been under pressure over the past few days, including down 7% today, after Anthropic released a new product around multi-agent orchestration, which continues to add more headwinds to the software sector. While Anthropic is hitting a new scale with the company now at $30 billion ARR, up from $9 billion at the start of the year, we believe this is not at the expense of PLTR’s business as the company continues to accelerate both its US commercial and government businesses with US Commercial growing 137% YoY and US government accelerating 66% YoY.”
“The data driven moat by Palantir is around the data and its ontology…this is NOT being disrupted by [Anthropic’s AI] Claude,” Ives added.
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“Not a single Palantir customer or partner has cited any real risk from Claude models being used to DIY an equivalent of Palantir, likely because the data mapping and decision-making in Palantir is very sophisticated,” UBS analyst Karl Keirstead wrote in a recent research note.
Famed investor Michael Burry wrote on social media on Thursday that it’s ‘probably worth following Claude if you are an investor in these markets’. Among notable decliners on Thursday, Palantir Technologies Inc. sank 7.3%, Oracle Corp. dropped 4%, Salesforce Inc. shed 3.1%, ServiceNow Inc. slumped 7.9%, and Workday Inc. dropped 5.1%.
Warning about Mythos
Meanwhile, Reuters cited sources to report that Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened an urgent meeting with bank CEOs this week to warn of cyber risks posed by Anthropic’s latest AI model.
Anthropic launched the powerful Mythos model earlier this week but stopped short of a broad release, citing concerns it could expose previously unknown cybersecurity vulnerabilities.
The company has said the model is capable of identifying and exploiting weaknesses across ‘every major operating system and every major web browser’.
Last week, Anthropic said it was in ongoing discussions with US government officials about the model’s ‘offensive and defensive cyber capabilities’.
Access to Mythos will be limited to about 40 technology companies, including Microsoft and Google, the startup has said.
(With Reuters inputs)
