Palantir Drops 17% After Burry's Viral Post

Palantir Technologies stock has fallen roughly 17% over four sessions, sliding from $150.07 to around $124, pushing its year-to-date loss to 30%. The selloff was triggered by short seller Michael Burry's since-deleted post claiming Anthropic is eating Palantir's lunch in enterprise AI, sparking fears that foundation model providers could bypass Palantir's operational platform layer. The rout spread across AI software stocks including Salesforce, ServiceNow, Snowflake, and Cloudflare, signaling a broader repricing of the AI middleware thesis. Despite strong fundamentals, including 70% revenue growth and 61% projected growth for 2026, Palantir still trades at roughly 260x earnings, leaving it vulnerable to sentiment shifts.