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.

The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.

U.S. stock indexes ended mixed after Nvidia, Palantir and other superstar stocks pared most of their steep losses from the morning.

Nvidia, Palantir and other superstar stocks that surged in the mania surrounding artificial-intelligence technology are dragging Wall Street lower again on Wednesday. The S&P 500 fell 0.9% and was on track for a fourth straight loss after setting an all-time high last week.