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“The two companies he’s shorting are the ones making all the money, which is super weird,” Karp told CNBC’s “Squawk Box.” “The idea that chips and ontology is what you want to short is bats— crazy.”
“He’s actually putting a short on AI…It was us and Nvidia,” Karp added.
Palantir shares were off by 7% despite reporting results and guidance that beat Wall Street expectations, with investor raising concerns about the stock’s valuation. The shares, which were up 173% for the year heading into Tuesday’s trading, have a forward price-earnings ratio of 228.
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