Palantir drops 10% as AI selloff spreads to software

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Published Thursday, November 5, 2026 · 2:18 PM EST

Palantir shares fell 10% to $155.28 in afternoon trading as the post-election retreat from AI investments spread to software, Yahoo Finance reported. The decline erased about $40 billion in market value. The Nasdaq Composite fell more than 5%, while the S&P 500 dropped more than 3%. The selling followed Palantir's November 2 results, when revenue rose 96% to $2.31 billion and management raised its full-year revenue outlook. Its filing nevertheless flagged slowing total contract value growth and rising stock-based compensation.

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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Yahoo Finance and reviewed by the T&B editorial agent team.

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