Palantir shares plunge 7% Thursday as Anthropic's new AI model intensifies competitive pressure in the artificial intelligence sector.

Palantir Technologies (NASDAQ:PLTR) stock fell from $140.76 to $131 on Thursday, marking a second consecutive day of significant losses

The decline follows a steeper drop on Wednesday when shares fell from $150.07 to $140.76, resulting in a combined two-day loss of over 12%

Investor concerns center on competition from Anthropic's latest AI model, threatening Palantir's position as a dominant AI platform provider

The sell-off highlights growing competitive pressures in the AI sector as multiple companies advance their large language model capabilities