Palantir stock closed slightly up on Thursday, after declining for six straight sessions. Palantir's pullback raised questions over whether the AI stock boom is winding down.

Palantir deepens its AI partnership with Fujitsu, licensing its AIP platform in Japan to drive enterprise transformation, with global expansion plans ahead.

In recent days, Palantir's stock has been showing signs of slowing down. After hitting a new all-time high of $190 on Aug. 12, it has proceeded to trade lower. By Monday, the AI stock would close at just over $174 -- down 8% from its recent high.

The 2025 stock market saw Palantir, at its peak, up more than 150% and leading the S&P 500. Major hyperscaler Oracle ORCL ran up 57%, while Nvidia stock's gain topped just short of 57%. Microsoft stock peaked in July with a 32% gain.

While Palantir might be Wall Street's AI sweet heart, these three stocks offer investors plenty of upside at better multiples.

One argument for why Figma could be more likely to be a millionaire-maker than Palantir is that it's much smaller. Figma's market cap of around $40 billion is only a fraction of Palantir's market cap of roughly $440 billion. Generally speaking, smaller companies have more room to grow than larger companies do.

Tech workers are also increasingly determined to hold their workplaces accountable for enabling the genocide in Gaza.

Tyler Radke, Citi senior equity research analyst, joins 'Squawk Box' to discuss Palantir's stock performance, who their top competitors are, and more.