• In late March 2026, Palantir Technologies announced that automaker Stellantis renewed and expanded their long-running data and AI partnership, agreeing to use Palantir Foundry more broadly and begin rolling out the Artificial Intelligence Platform across select operations over the next five years.
• At the same time, mounting criticism from investor Michael Burry and surging interest in Anthropic’s cheaper, agent-based AI tools have sharpened questions about whether Palantir’s complex platforms can retain their appeal as enterprises reassess how they deploy AI.
• We’ll now examine how Anthropic’s emerging AI agent competition and the Stellantis renewal could reshape Palantir’s investment narrative for long-term investors.

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Palantir Technologies Investment Narrative Recap

To own Palantir, you really have to believe that its AI platforms will stay central to how big institutions run sensitive, data-heavy operations, even as cheaper, agent-based tools emerge. Right now, the key near term catalyst is continued uptake of AIP in large commercial deployments, while the biggest risk is that Anthropic’s managed agents and similar offerings compress Palantir’s pricing power and slow new-seat growth. The Stellantis renewal does not meaningfully change that risk balance.

The Stellantis extension is the clearest recent proof point tied to that thesis. By broadening its use of Foundry and starting to roll out AIP across operations, Stellantis is effectively treating Palantir as an operating layer for industrial data and AI. For investors watching near term catalysts around commercial AI adoption, this kind of multi year, expanded rollout is exactly the type of contract that can support Palantir’s revenue visibility while debate over Anthropic and other rivals plays out.

Yet even with headlines like Stellantis in the mix, investors should be aware of mounting concerns that cheaper AI agents could quietly erode Palantir’s pricing power over time...

Palantir Technologies' narrative projects $10.8 billion revenue and $3.6 billion earnings by 2028. This requires 40.7% yearly revenue growth and about a $2.5 billion earnings increase from $1.1 billion today.

Uncover how Palantir Technologies' forecasts yield a $185.70 fair value, a 42% upside to its current price.

Exploring Other Perspectives

Some of the lowest estimate analysts were already cautious, assuming revenue of about US$10,000,000,000 and earnings of roughly US$2,800,000,000 by 2028, and warning that rival AI stacks could erode Palantir’s pricing power. Set against today’s Anthropic headlines and Stellantis renewal, their more pessimistic view highlights just how widely opinions can differ and why it is worth examining several competing narratives before you decide where you stand.

Explore 130 other fair value estimates on Palantir Technologies - why the stock might be worth over 5x more than the current price!

Form Your Own Verdict

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

• A great starting point for your Palantir Technologies research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free Palantir Technologies research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Palantir Technologies' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.