Palantir Technologies Inc (NASDAQ:PLTR) Stock Update

Data analytics company Palantir Technologies' shares fell over 4% to $68.61 during midday trading on Wednesday. Despite this dip, the stock has gained approximately 300% year-to-date, largely due to increased demand for its AI platform, which is utilized for various tasks such as testing, debugging code, and evaluating scenarios driven by AI.

In addition, Palantir provides software that assists government operations in visualizing army positions.

Earlier today, rival Anduril Industries announced a partnership with OpenAI, the developer of ChatGPT, aimed at creating and deploying advanced artificial intelligence solutions for national security missions.

Interestingly, Palantir shares rose about 7% in trading on Tuesday.