Palantir stock fell 8% after Michael Burry argued Anthropic is capturing enterprise AI spending that Palantir cannot compete for

“Big Short” investor Michael Burry posted on X, in a since-deleted message, that Anthropic is “eating Palantir's lunch” in enterprise AI, citing Ramp spending data showing Anthropic captures 73% of all new enterprise spending and wins roughly seven out of 10 direct head-to-head contests with OpenAI. Burry's core critique is that Palantir is not a scalable software company but a professional services business that embeds engineers inside client offices for months to keep its systems running, whereas Anthropic's API can be integrated into existing workflows without on-site staffing. Palantir reported $1.4B in Q4 2025 revenue, up 70% year over year, and guided for roughly $7.2B in full-year 2026 revenue, but the stock still trades at about 142 times expected earnings, and Burry holds put options covering approximately five million Palantir shares expiring in 2027.