Key Takeaways:
Palantir Technologies (PLTR) shares opened lower on April 9 after “Big Short” investor Michael Burry argued that competitor Anthropic is winning the enterprise AI war, capturing nearly 73 percent of new corporate spending.
"Anthropic is eating Palantir's lunch," Burry said in a post on X, the social media platform. "That massive boost from $9B to $30B ARR at Anthropic is because Anthropic offers the easier, cheaper, intuitive solution for businesses."
Burry, who previously disclosed a short position in Palantir, cited a March 2026 analysis from financial operations platform Ramp. The report showed a dramatic shift in enterprise AI spending, with nearly one in four businesses on the Ramp platform now paying for Anthropic's Claude AI tools, up from one in 25 a year prior. The same report indicated that OpenAI's market share declined by 1.5 percent in a single month, its largest drop since Ramp began tracking the metric.
The critique from the prominent investor adds to the pressure on Palantir, a company known for its lucrative government contracts. Burry’s thesis suggests that the real growth in the AI sector stems from the private enterprise market, where he sees Anthropic establishing a dominant position. While Palantir took 20 years to reach $5 billion in revenue, Anthropic's annual recurring revenue (ARR) has reportedly surged from $9 billion to $30 billion in a matter of months.
Burry's bearishness on Palantir is not new, but his focus on the competitive threat from Anthropic provides a fresh angle. He acknowledged Palantir's government work but argued it doesn't provide a decisive long-term advantage against the rapid adoption of "plug and play" AI models in the corporate world.
The data from Ramp's economist Ara Kharazian highlights a zero-sum dynamic in the market. The share of companies choosing to pay for Anthropic's Claude before trying OpenAI's offerings reached 73 percent in February, a figure Burry emphasized as a key indicator of market momentum.
Other investors have also expressed skepticism about Palantir's valuation. Short-seller Andrew Left of Citron Research revealed a short position in September, favoring another private AI startup, Databricks.
The public criticism from a high-profile investor like Burry could fuel further negative sentiment and increase selling pressure on Palantir's stock. Investors will be closely watching Palantir's next earnings report for any commentary on its enterprise client growth and competitive positioning against rivals like Anthropic.
This article is for informational purposes only and does not constitute investment advice.
