Trump touted Palantir on Truth Social after buying the company's stock, records show

In this article

• PLTR

Follow your favorite stocksCREATE FREE ACCOUNT

U.S. President Donald Trump, Secretary of Defense Pete Hegseth behind, speaks to reporters aboard Air Force One on a flight from Dover, Delaware, to Miami, Florida, U.S., March 7, 2026.

Kevin Lamarque | Reuters

President Donald Trump scooped up shares of artificial intelligence software maker Palantir weeks before he famously lauded the stock, with its ticker symbol, on his social media platform Truth Social, according to records released this week by the U.S. Office of Government Ethics.

The records show thousands of transactions during the first quarter totaling hundreds of millions of dollars, with each trade listed as a price range.

During the first three months of the year, Trump purchased between $247,008 and $630,000 worth of stock in the now Miami-based AI company, the documents show.

In March alone, Trump made at least seven purchases of Palantir totalling as much as $530,000.

The following month, Trump praised Palantir on Truth Social as shares suffered their worst week in over a year. That came as the software selloff accelerated amid the Iran war and the company caught the ire of famed short-seller Michael Burry.

“Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment,” Trump wrote on the social media platform at the time. “Just ask our enemies!!!”

The company’s tools have reportedly been used to identify targets in Iran.

Several transactions were denoted as “unsolicited,” indicating that the move wasn’t done by recommendation of a broker or financial advisor.

“President Trump’s investment holdings are maintained exclusively through fully discretionary accounts independently managed by third-party financial institutions with sole and exclusive authority over all investment decisions. Trades are executed and portfolios are balanced through automated investment processes and systems administered by those institutions,” a Trump Organization spokesperson said in a statement.

Trump, his family and the Trump organization don’t play a “role in selecting, directing, or approving specific investments,” they added.

“They receive no advance notice of trading activity and provide no input regarding investment decisions or portfolio management of any kind,” the spokesperson said.

White House spokesman David Ingle said the president’s assets are in a trust managed by his children and, “There are no conflicts of interest.”

Palantir did not respond to a request for comment.

The defense tech company is among a batch of tech companies currying favor with the president during his second stint in the White House, as Trump accelerates the military’s push for modernization.

Read more CNBC tech news

• Cerebras soars in Nasdaq debut, topping $100 billion market cap after blockbuster IPO
• Xi tells Musk, Tim Cook and other CEOs on Trump’s trip: China will ‘open wider’
• Chinese companies are ramping up homegrown AI chips, even if Nvidia is coming back
• Microsoft feared being too dependent on OpenAI, Musk-Altman trial testimony reveals

CEO Alex Karp, a vocal proponent of the U.S. military, has backed the new administration, despite previous contributions to President Joe Biden’s campaign, and the company is disrupting the traditional defense contractor system dominated by major firms like Lockheed Martin and Northrop Grumman.

Last year, Palantir sponsored Trump’s military parade held in June for the U.S. Army’s 250th anniversary. Other tech companies also reportedly sponsored the event.

The OGE records released this week show that Trump has been active in the stock market during the early months of 2026. That included selling as much as $5 million worth of Palantir on Feb. 10. Trump made several other sales of Palantir shares over about two weeks.

But Palantir wasn’t the president’s only big tech trades.

In February, the president bought between $1 million and $5 million worth of AI chipmaker Nvidia. About a week later, the company expanded its AI deal with Meta Platforms.

That month, he scooped up between $1 million and $5 million worth of ServiceNow, Workday, Oracle and Microsoft during the software selloff earlier this year.

Records also show the president bought upwards of $1 million worth of Amazon, Apple and Broadcom.

watch now

VIDEO3:4403:44

DA Davidson’s Gil Luria on Palantir: No other company is growing at this rate

Closing Bell: Overtime

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.