AI stocks rebounded on Friday. SoundHound AI, BigBear.ai up more than 4%; Palantir, C3.ai, Super Micro up over 3%; Alphabet, Arm up over 2%; Nvidia, AMD up over 1%.
Palantir Technologies stock dropped nearly 8% on Wednesday, closing at $121.57. The fall wasn’t triggered by any company-specific news. Instead, it followed a public clash between Tesla CEO Elon Musk and President Donald Trump, a spat that rattled stocks often tied to Trump-related trades.
The drama began with a failed backroom deal, then spilled into the open. Trump took shots at Tesla’s CEO Elon Musk during a press event, accusing him of trying to kill a key tax-cut bill in Congress. He claimed Musk was upset because the bill would cut some electric vehicle perks that help Tesla. Musk fired back online, using X—his own social platform—to slam Trump’s leadership and accuse him of favoring allies unfairly. Tesla stock, already sliding, took a bigger hit after the clash and finished the day down 14%.
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