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Home/Markets & Investing/MICHAEL BURRY

Palantir's AI Edge Is Facing a New Rivalry with Anthropic

EP

Ellis Pemberton

Michael Burry · Apr 9, 2026

Palantir's AI Edge Is Facing a New Rivalry with Anthropic

Source: DojiDoji Data Terminal

Palantir Technologies stock plunged over 12% in recent sessions after investor Michael Burry posted on X that AI startup Anthropic is "eating Palantir’s lunch."

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ai valuation

Anthropic captures 73% of new enterprise AI spending as Palantir loses ground

Nearly one in four businesses on the financial platform Ramp now pay for Anthropic. A year ago, this figure stood at one in 25. This shift is driven by the the plug-and-play AI tools that businesses can integrate faster than the complex systems provided by Palantir. According to investor Michael Burry, 73% of new enterprise AI spending is going to Anthropic, with 73% of new paying customers choosing Claude over OpenAI. Anthropic's annual recurring revenue surged from $9 billion to $30 billion in just months, a pace that contrasts with Palantir's 20-year climb to $5 billion in revenue. Over the same period, OpenAI experienced a 1.5% decline in business customers. Palantir shares fell about 6% on the week's Wednesday. The company trades at a forward earnings multiple well above sector averages.

Burry's critique focuses on the gap in AI adoption. He argues that Anthropic's tools are simpler, cheaper, and easier for companies to use than Palantir's more complex systems. This shift in demand is reflected in the numbers: Anthropic's annual recurring revenue has surged to $30 billion, while Palantir's path to $5 billion is slower.

Related Brief3d ago
ai investing

Enterprise AI Spending Is Pivoting to User-Friendly Models, Not Legacy Platforms

Enterprise AI spending is now favoring platforms that are easy to integrate and scale, not those built on complex, custom architectures. Michael Burry's assessment positions Anthropic as the emerging leader in this shift, overtaking Palantir in relevance. Anthropic's growth stems from rising demand for accessible, scalable AI—exemplified by its Claude model—which aligns with the operational pace of modern businesses. Enterprises no longer want to wait months for tailored deployments; they want AI that works out of the box. Palantir’s model, built on intensive data integration and long deployment cycles, is increasingly misaligned with that need. As companies redirect budgets toward faster, more flexible tools, market valuations will follow. Business Insider reports this transition could redefine growth benchmarks for AI investment.

While Palantir maintains strong government contracts, including $1.05 billion in award payments over the last year, including the Maven Smart System, Burry believes the primary growth opportunities are in the private sector where competition is more intense.

Related Brief1d ago
investing

Michael Burry's Chinese E-commerce Bets Bets on a Price Dropy

JD.com's ADR rose 2.2% on Friday. This movement followed an announcement by investor Michael Burry that he had purchased shares of the Chinese e-commerce company. In a post to paid Substack subscribers, Burry stated that Alibaba is a new position in his portfolio, representing slightly above 6%. JD.com is a significant addition to the portfolio and represents a slightly higher proportion than Alibaba. Burry wrote that the recent weakness in the company's performance provided a highly attractive entry point.

Insider activity suggests a lack of confidence. In the past six months, Palantir insiders have traded on the open market 219 times; 0 have been purchases and 219 have been sales. Peter Thiel sold 2,000,000 shares for an estimated $289,707,507. CEO Alexander Karp sold 897,914 shares for an estimated $131,999,688. Stephen Andrew Cohen sold 674,859 shares for an estimated $100,464,559.

Related Brief2d ago
equities

Anthropic's ARR growth reveals Palantir's scale inefficiency

Palantir stock faces a forecasted multiyear decline. This projection follows Michael Burry's identification of Anthropic's annual recurring revenue climbing from $9 billion to $30 billion in a few months. Burry notes that enterprises are shifting toward cheaper and more intuitive AI solutions. Palantir took 20 years to reach $5 billion in annual recurring revenue. Burry has positioned for this decline through long-dated put options.

Institutional movements are also shifting. UBS AM removed 47,772,359 shares from their portfolio in Q4 2025 for an estimated $8,491,536,812.

Related Brief1d ago
short selling

Michael Burry’s Palantir Short Points to a $77 Gap Between Price and His Estimate of Fundamental Value

Palantir stock traded at approximately $127 per share on Friday, more than double Michael Burry’s estimate of its fundamental value. Burry holds long-dated put options on the company with strike prices of $50 and $100, including June 2027 $50 puts and December 2026 $100 puts, and has no plans to exit the position. He believes the stock’s intrinsic worth is well under $50 per share, creating a gap of over $77 between current price and his valuation. The difference underscores a stark divergence between market sentiment and Burry’s assessment. He has maintained this bearish stance since the fall of 2025, rolling the position multiple times. Despite a recent post by President Trump praising Palantir’s “great warfighting capabilities” on Truth Social, the stock remains down about 28% in 2026. Palantir has secured new government contracts and expanded its work with the Pentagon during Trump’s second term, yet Burry sees no justification for its premium valuation.

Michael Burry

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