AIP
Arteris, Inc. Common Stock
stock NASDAQ

After using Palantir at my company (not govt / defense) I’m genuinely shocked that the stock is even this high. Not saying it’s bad, but Foundry and AIP seem overhyped.

Is there anything out there on how companies are successfully using anthropic? Something similar to AIP CON.

Yes, everyone can vibe code Palantir AIP and foundry using Claude, according to a certain lady that can't be chained.
Meanwhile legacy SaaS founders (seat-based or not) that were smart enough to build a business with a real moat will just sit back and watch their moat get eroded instead of using AI to further enhance their moat.
If everyone can use an LLM to be way more productive, and every hyperscaler and OpenAI/Anthropic are all building their own LLM. There is no way LLM can get commoditized, right.
That's something that only applies to software.

After using Palantir at my company (not govt / defense) I’m genuinely shocked that the stock is even this high. Not saying it’s bad, but Foundry and AIP seem overhyped.

Is there anything out there on how companies are successfully using anthropic? Something similar to AIP CON.

Yes, everyone can vibe code Palantir AIP and foundry using Claude, according to a certain lady that can't be chained.
Meanwhile legacy SaaS founders (seat-based or not) that were smart enough to build a business with a real moat will just sit back and watch their moat get eroded instead of using AI to further enhance their moat.
If everyone can use an LLM to be way more productive, and every hyperscaler and OpenAI/Anthropic are all building their own LLM. There is no way LLM can get commoditized, right.
That's something that only applies to software.

The number that reframes the valuation Palantir guided 2026 adjusted FCF of $3.925-4.125B.  At $350B market cap that’s roughly 87x forward FCF on adjusted numbers that already strip out $684M in SBC. Add that back and true owner FCF is closer to $3.2-3.4B, putting the real multiple north of 100x.
I’ve held since $25 so I’m not exactly a neutral voice here. But the reason I haven’t sold isn’t the multiple it’s that there’s genuinely no close competitor for what Palantir does with unstructured data at enterprise scale.
Databricks and Snowflake get mentioned but they’re infrastructure layers. AIP is an operational decision making platform sitting on top of that infrastructure. That’s a different product category entirely, and Palantir is years ahead of anyone trying to replicate it.
Pulling numbers, Rule of 40 at 127%, U.S. commercial growing 137% YoY the business keeps justifying the faith. The multiple is still the hardest part to defend. But when the moat is this asymmetric, sometimes you hold and let the business grow into the price.​​​​​​​​​​​​​​​​

Market's current narrative is all SaaS moats might be eroded by Anthropic's LLM.
If it's that easy to erode the ecosystem these companies have spent decades building, what are all the Salesforce/workday clients doing? Build your own ecosystem to handle payrolls, cybersecurity and your entire operation while taking legal compliance and maintenance into account. It's that easy.
What is Anthropic doing? Why aren't they simply recreating a Salesforce/PLTR AIP and simply undercut them to take their lunch. Pltr should go back to 20 PE with 70% growth from the last quarter because their revenue will become stagnant.
What are all these SaaS companies doing? Why aren't they using Anthropic's LLM themselves to further reinforce their moats if it's that good? If they are already doing it, other companies still aren't any closer to replicating what they do, then why do they need to be sold off?
So which is it, Mr. Market?