Palantir shares surged 7.77% on July 1 after unveiling a partnership with Nvidia that snapped a four-session losing streak. The rally coincided with Michael Burry trimming his bearish bet and CEO Alex Karp criticizing high token costs at OpenAI and Anthropic.
Palantir announced a strategic partnership with Nvidia on July 1, leveraging Nvidia’s GPU technology to accelerate its Foundry platform and reverse a four-day share price decline.
The stock jumped 7.77% intraday—its largest single-day gain this quarter—ending a brutal losing streak that had eroded over 15% of market value in recent sessions.
Legendary investor Michael Burry reduced his bearish position by cutting put-option exposure by an estimated 30%, signaling increased confidence in Palantir’s near-term outlook.
CEO Alex Karp publicly denounced per-token pricing at OpenAI and Anthropic as unsustainable, positioning Palantir’s pricing model as a more cost-effective solution for enterprise AI deployments.
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