Palantir CEO fires back at PLTR short sellers, saying they are misreading both the company’s trajectory and the broader AI transformation powering its numbers.
In a new CNBC interview, Alex Karp forcefully defends Palantir’s valuation and strategy as skeptics continue to question the sustainability of AI-driven gains.
Yesterday, news emerged that “Big Short” investor Michael Burry shorted PLTR to the tune of nearly $1 billion, representing 66% of Scion Asset Management’s portfolio.
Karp says short sellers are fueling the company’s drive to accelerate performance, emphasizing that repeat upside surprises have consistently confounded those positioned against the stock.
“Of course, when I hear short sellers attacking what I believe is clearly the most important software company in America and therefore in the world in terms of our impact, simply to make money and trying to call the AI revolution into question…
And I’ll tell you what, though, it’s crazy motivating, because I’ll tell you why the short sellers are constantly getting screwed by Palantir because every time they short us, we just are tripling down on getting the better numbers, and part of that, honestly, to make them poorer.”
He points to Palantir’s operating profile and growth metrics as evidence that skepticism around valuation misses the strength of the fundamentals, particularly in US enterprise adoption.
“Find a company in the world that has a rule of 114, that has US commercial growing at 121%, that aggregate growth in the US is 77%, that has throwing off free cash flow in a way that’s anonymous, and that is fully aligned with our customers.”
In its latest earnings report, Palantir shows $1.2 billion in Q3 revenue, beating Wall Street estimates of $1.09 billion, and earnings per share of $0.21, ahead of expectations of $0.17. Meanwhile, US commercial revenue surged to $397 million, up 121% year-over-year, marking one of the fastest growth rates in enterprise software tied to AI adoption.
The company also raised guidance. For the fourth quarter, Palantir sees $1.33 billion in revenue, topping consensus estimates of $1.18 billion, and expects $697 million in operating profit versus $575 million forecast. Full-year revenue is now projected at $4.42 billion, above the $4.16 billion estimate, with operating profit rising to $2.155 billion, outpacing expectations of $1.93 billion.
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