Two hedge fund managers with a track record for market beating returns sold Nvidia and bought Palantir in the second quarter.

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.

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.

This AI infrastructure play has delivered bigger gains than its larger peers since going public earlier this year.

Palantir stock sinks below a key technical level, extending a steep two-day drop. History suggests buying the dip could pay off—big.

Palantir Q2 results highlight strong growth and margins with 50% YoY potential. Read more on risks like data reliance and market limits and why I remain bullish on PLTR.

Target names a new CEO and posts quarterly earnings that beat analysts’ forecasts, while Palantir extends losses into a sixth-straight session.

Palantir Technologies is the fastest-growing company in the S&P 500.

Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.