Palantir's stock rallied 4% on Friday after Donald Trump praised the company's "great war fighting capabilities and equipment," posting its Nasdaq ticker. This endorsement came days after famed short seller Michael Burry criticized Palantir, sending shares lower during a bruising week of trading that wiped out billions in market value.

The data intelligence group has lost nearly 25% of its value since the start of the year, with Burry claiming Anthropic was "eating Palantir's lunch" and that AI start-ups would dominate the market. Palantir remains down on the week despite Trump's supportive comments, which included a jab at the company's unspecified successes against "our enemies."

Palantir has secured several multibillion-dollar agreements with government agencies under Trump's administration, including with the Department of Homeland Security and Immigration and Customs Enforcement. CEO Alex Karp donated $1 million to Trump's PAC and has dined with the president, while the company has hired Washington lobbyists close to the White House and contributed to Trump's White House ballroom project alongside tech giants like Amazon, Apple, Google and Microsoft.