Palantir Technologies has created one of the most dramatic stories on Wall Street this year, defying conventional investment narratives. In 2025, it became the top-performing stock in the S&P 500, surging over 106% and at points climbing 144% from the start of the year—outpacing even AI heavyweights like Nvidia.

Palantir Technologies was the worst performer in the S&P 500 on Tuesday, with the stock continuing to surrender gains following a blowout earnings report earlier this month.

Palantir stock fell for the sixth straight session on Wednesday. With the retreat, Palantir stock is down 18% from its all-time high.

Palantir's price-to-sales ratio of 114 is way above OpenAI's 17. Palantir's success in defense work could block access to growth as enterprise AI payoff remains elusive

The sudden reversal shows how the hottest AI trade and top-performing stock of the year is colliding with a broader market rotation out of big tech.

Software stocks have been under pressure—and there may be more selling to come as highflying shares of Palantir finally succumb to gravity.

U.S. stock indexes ended mixed on Wednesday after Nvidia, Palantir and other superstar stocks pared most of their steep losses from the morning. The S&P 500 dipped 0.2% after trimming a loss that reached 1.

NEW YORK — Wall Street faded on Tuesday following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology. The S&P 500 fell 0.6% for a third straight loss The heaviest weight on the market was Nvidia,

Wall Street is edging lower on Tuesday following drops for Palantir and other stars that had been riding the mania surrounding artificial-intelligence technology. The S&P 500 slipped 0.4% and is on track for a third straight modest loss after setting its all-time high last week.