Palantir Technologies (NASDAQ:PLTR) closed at $129.13, down 4.83% after Michael Burry’s bearish thesis on Palantir and AI cycle concerns. Trading volume reached 73.4 million shares, 61% higher than the three-month average. The S&P 500 dropped 1.57% to 6,832, while the Nasdaq Composite fell 2.03% to 22,597, impacting software-infrastructure peers like IBM and Leidos.

Despite pressure from Burry’s projection, Palantir reported strong Q4 revenue growth, up 70% YoY, with U.S. commercial revenue rising 137%. Management guidance exceeded Wall Street expectations, indicating strong demand for AI platforms. HSBC and Northland Securities upgrades suggest potential growth, but the stock’s premium valuation and high expectations pose risks.

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Read more at Yahoo Finance: Palantir Faces Valuation Scrutiny Despite 70% Revenue Growth