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Palantir's stock price surges on AI news, gamma squeeze originally appeared on TheStreet.
It's becoming increasingly difficult to find websites that don't integrate an artificial intelligence chatbot. You open a site, and here is "Kira" (or whatever name you've chosen) asking you how she should address you.
Personally, I find that to be very annoying. But that is the trend. Apparently, your company isn't serious enough or big enough if it doesn't have one.
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Companies pushing AI just for the sake of having it is silly, but there are legitimate uses where AI doesn't end up just being a nuisance.
Banks, pharmaceutical companies, retailers, and the U.S. military all use AI, and hopefully, most of them do it better than UnitedHealthcare. Seemingly every company is working on AI chatbots or agentic AI programs that simplify processes (and could replace human jobs).
That's been a boon for AI stocks, including Palantir, which has seen its stock price soar 74% in 2025, including a 8% jump on May 30.
Fannie Mae partners with Palantir on AI fraud detection
Fannie Mae has more than $4.3 trillion in assets and plays a foundational role in the U.S. housing market. According to the company, it is the country's largest holder of residential mortgage debt outstanding, owning or guaranteeing an estimated one in four single-family mortgages and 20 percent of multifamily mortgages in the U.S.
Related: Veteran trader makes bold move with Palantir, Rocket Lab and SoFi
On May 28, the company announced the launch of its AI-powered crime detection unit in partnership with Palantir.
The deal expands Fannie Mae’s fraud detection capabilities with a new AI-enabled platform that the company believes will help detect and prevent mortgage fraud, potentially saving the U.S. housing market millions of dollars in future losses.
“This partnership with Fannie Mae will set off a revolution in how we combat mortgage fraud in this country," said Alex Karp, co-founder and chief executive officer of Palantir. "We are bringing the fight directly to anyone who attempts to defraud our mortgage system and exploit hardworking Americans.”
But this deal wasn't the only reason behind Palantir's stock price jumping.
Trump administration shares data across agencies
In March, President Trump signed an executive order calling for the federal government to share data across agencies.
Related: Palantir gets great news from the Pentagon
In the past few months, Palantir has been granted more work across the federal government, a signal that it may benefit from that order.