OpenAI at $500B Puts Palantir at $40 — And That’s Generous

On Friday afternoon, CNBC confirmed that OpenAI plans to sell $6 billion worth of stock, valuing the company at a staggering $500 billion.  WOW!
https://www.cnbc.com/2025/08/15/openai-6-billion-stock-500-billion-valuation.html

This morning, we read that Sam Altman stated the AI market is in a bubble. Altman isn’t shorting Palantir—he’s simply telling the truth. The market is frothy, and no one knows it better than the man who built the most valuable AI company in the world.
https://www.cnbc.com/2025/08/18/openai-sam-altman-warns-ai-market-is-in-a-bubble.html

Last week, Citron’s Andrew Left appeared on Fox Business with Liz Claman, suggesting that at a $40 price, PLTR would start to look cheap. We stand corrected; even at that price, it remains expensive. https://www.foxbusiness.com/video/6376884457112

OpenAI, the undisputed leader in AI, is achieving revenue and user growth at an unprecedented pace in technology history. Its new $500 billion valuation provides a true benchmark for evaluating Wall Street’s favorite trading stock, Palantir—a company now detached from fundamentals and analysis, ironically the very services it claims to offer.

Let’s simplify this by working backward to demonstrate why Palantir would be fortunate to achieve the same valuation multiple as OpenAI.

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