| Segment | Value | % of Price | Type |
|---|---|---|---|
| Net Cash | $3 | 2% | auditable |
| US Government | $16 | 11% | anchored |
| US Commercial | $17 | 11% | anchored |
| International | $2 | 1% | anchored |
| Platform Premium / AI Optionality | $124 | 80% | anchored |
Anchored: $159/sh (103%) · Speculative: $0/sh (0%)
Are ontology-layer switching costs as durable as ERP switching costs, or will AI commoditization erode them?
At $154/share, the market implies a $293B Platform Premium — 74% of the stock price. This represents the market's bet that Palantir becomes the enterprise AI operating system, not just a government contractor or a commercial analytics vendor. The premium implies Palantir captures significant share...