GoKawiilCEO of Palantir Technologies Alex Karp attends the Pennsylvania Energy and Innovation Summit, at Carnegie Mellon University in Pittsburgh, Pennsylvania, U.S., July 15, 2025.
President Donald Trump lauded Palantir in a post to Truth Social on Friday as the artificial intelligence software stock plunged 14% for its worst week in a year.
"Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment," Trump posted on the social media platform. "Just ask our enemies!!!"
The U.S. military is reportedly utilizing Palantir's AI-powered Maven Smart System platform to identify targets in the Middle East, tied to strikes on Iran that began in late February. Palantir counts on the government, including the Pentagon and Immigration and Customs Enforcement, for more than half of its U.S. revenue.
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 backed the new administration and its policies.
Karp regularly defends Palantir when the company is criticized for providing tools used to surveil immigrants and Americans. His outspoken support of Israel in the wake of the Oct. 7 attack by Hamas also led some employees to leave the company, he previously told CNBC.
In October of last year, Palantir communications chief Lisa Gordon called the company's political shift toward the Trump administration "concerning" in an interview at an event hosted by The Information. The video was quickly removed from The Information's YouTube and social media pages.