Palantir (PLTR) has undoubtedly been a shining star of the artificial intelligence (AI) boom, delivering jaw-dropping returns of nearly 955% over the past two years. From powering military operations and supply chains to fighting fraud and enhancing healthcare,

Planned cuts to defense spending sparked a sell-off for Palantir stock that has continued into this week. Shares have tumbled after touching records.

Palantir stock fell again Tuesday to extend a swift decline from record highs amid investor concerns that the U.S. government could cut spending on the analytical software company