Palantir Tumbles 7% on Anthropic Competition Fears: Is the AI Platform King Losing Its Crown?
Palantir's stock dropped 7% due to competition fears from Anthropic's new AI model, extending a two-day decline. The company's high P/E ratio and potential erosion of pricing power have investors questioning its growth premium.
Palantir's stock fell 7% to $131 on Thursday. The decline was sparked by investor Michael Burry's deleted post, which flagged Anthropic's new AI model as a competitive threat. Palantir's platforms, Gotham and Foundry, are deeply embedded in client workflows, creating high switching costs. The company's revenue is projected to grow 61% year-over-year in 2026, with strong guidance and high switching costs supporting the bull case.
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