Shares of Palantir Technologies (NASDAQ:PLTR) tumbled 12% Tuesday morning after the artificial intelligence data analytics firm handily beat analyst first-quarter revenue and earnings forecasts while also raising its full-year outlook.

Palantir Technologies Inc., whose stock led the S&P 500 in gains this year, dropped about 9% in premarket trading on Tuesday after its financial results failed to live up to investors’ loftiest expectations.

Palantir stock crashed after the company reported its first-quarter financial results. Management highlighted continued demand for its artificial intelligence platform, AIP. Dan Ives at Wedbush says Palantir will be a trillion-dollar company in two or three years.

Shares of data-mining and analytics company Palantir (NYSE:PLTR) fell 13.3% in the afternoon session after the company reported first quarter 2025 results, which had high expectations heading into the prints,

Palantir Technologies Inc.’s stock is falling more than 13% on Tuesday, despite the company’s solid first-quarter earnings and better-than-expected guidance.

Palantir is scheduled to report quarterly results after the closing bell Monday, with analysts largely taking a wait-and-see approach on the artificial intelligence software firm.