Palantir Shares Fall 7% After Burry's Anthropic Warning

Palantir Technologies Inc.'s shares fell 7 percent Thursday, closing at 131 after opening at 140.76, extending a two-day decline that erased gains from earlier in the week and leaving the stock down 26 percent year to date. The drop followed a similar 6.5 percent slide Wednesday, triggered by a now-deleted social media post from investor Michael Burry, who described the company's valuation as a potential bubble and warned that rival Anthropic was gaining ground in the enterprise artificial intelligence market.

Burry, known for his prescient bets during the 2008 financial crisis, posted on X late Wednesday that Anthropic was "eating Palantir's lunch." He highlighted Anthropic's annual recurring revenue surging from $9 billion to $30 billion, attributing the growth to its more accessible and cost-effective AI solutions for businesses. Citing a March 2026 analysis by economist Ara Kharazian for financial platform Ramp, Burry noted that nearly 25 percent of Ramp's business customers now subscribe to Anthropic services, up from 4 percent a year earlier. He also pointed to Anthropic capturing 73 percent of new enterprise AI spending amid zero-sum dynamics in the sector, including a...