Palantir stock (NASDAQ: PLTR) took a sharp hit on Wednesday, falling about 7% as high-valuation tech stocks pulled back across the market. The AI and data analytics company had hit record highs earlier in the month,

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

Palantir's price-to-sales ratio of 114 is way above OpenAI's 17. Palantir's success in defense work could block access to growth as enterprise AI payoff remains elusive

Palantir stands out with its scalable AI impact, unique Ontology platform, and defensible moat. Read why I think PLTR stock is a buy-on-pullback opportunity.

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.

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.

We recently published Jim Cramer Said Quantum Computing Could Quench AI’s Thirst For Water As He Discussed These 14 Stocks . Palantir Technologies Inc.

Palantir's growth continues to be led by U.S. commercial customers adopting its Artificial Intelligence Platform (AIP). The company once again credited AIP's ontology, saying it is "pure understanding," and that without it, large language models (LLMs) cannot actually work in the real world

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