Intapp (INTA) +15.5% on $150M Buyback

Intapp gained more than 15% after unveiling a $150 million stock repurchase program, with management underscoring confidence in the company’s growth trajectory and balance sheet strength.

‍

Citron Goes Short Palantir: “Valuation Is Absurd”

Famed short-seller Andrew Left of Citron Research is taking aim at Palantir after its 144% surge in 2025, calling the stock a “hype-driven narrative” with no precedent at current multiples. Palantir trades at nearly 80x sales and ~290x forward earnings, levels Left argues could see a 50–65% correction even if growth remains strong. While he acknowledged Palantir’s operational strength and AI leadership, he warned that retail-driven enthusiasm is fueling unsustainable momentum, echoing his past battles against meme stocks. The timing is notable: Citron went public with its short weeks after Palantir posted record quarterly earnings, signaling that valuation risk may now overshadow fundamentals in the bull case.

‍

Intel Surges as U.S. Weighs Direct Stake in Chipmaker

Intel jumped after reports that the Trump administration is in talks to take an equity stake in the company, echoing the Pentagon’s recent $400M preferred equity investment in MP Materials. The move would provide Intel with crucial financial support to revive its long-delayed Ohio megafab project—once touted as the world’s largest semiconductor hub but recently pushed into the 2030s amid cost overruns and weak cash flow.
‍

The potential deal follows a meeting between President Trump and Intel CEO Lip-Bu Tan, marking a sharp turnaround from just days ago when Trump called for Tan’s ouster over his China ties. Now, Tan appears set to stay on as the administration leans on Intel to anchor domestic chip capacity. The plan reflects a new model of state intervention, with Washington taking direct ownership stakes in strategic industries—ranging from rare earths to steel and now semiconductors—in order to insulate U.S. supply chains from geopolitical shocks.
‍

For markets, the implication is clear: the White House isn’t just subsidizing reshoring—it’s nationalizing strategic risk. Intel, once the undisputed global leader but now fighting to regain its edge, may become the poster child for a broader industrial sovereignty push where defense, technology, and government finance converge.

‍