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.

Wall Street continues to drift while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports. Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.