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.

Citron Research published a scathing report on Palantir, saying that even if the defense name traded at $40 — 75 percent below current levels — it would still be “expensive” relative to history.

Wall Street faded on Tuesday following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.

Nvidia, Palantir and other superstar stocks that had surged in the mania surrounding artificial-intelligence technology are dragging Wall Street lower again on Wednesday.