# HSBC downgrades Palantir Technologies to hold from buy.

*business · news · 2026-05-04 · CNBC*

## Key points

- HSBC downgraded Palantir's rating to hold and cut its price target to $151.
- HSBC cites agentic AI frameworks and MCP servers as eroding Palantir's barriers to entry.
- Competitors like OpenAI are adopting Palantir's embedded engineer approach, increasing competitive pressure.
- Anthropic's growing revenues are contributing to shrinking opportunities for Palantir in the AI software space.
- Last quarter's strong Palantir results failed to produce a share price rally, signaling potential downside risk.

**Companies:** Palantir Technologies, Anthropic, HSBC
**Countries:** United States, United Kingdom

[Read the full story on CNBC](https://www.cnbc.com/2026/05/04/palintir-gets-a-downgrade-from-hsbc-ahead-of-first-quarter-earnings-.html)

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