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Palantir (PLTR) stock is red hot to end the week, touching a new all-time intraday high of $85.22 on Jan. 31. This comes as investors anticipate its fourth-quarter earnings release on Monday, Feb. 3.
Artificial intelligence (AI) stocks including Palantir have been on a wild ride in recent days. These companies have outperformed over the past year, soaring on demand for the new technology. However, news that a Chinese startup DeepSeek created AI models that rivaled its U.S. counterparts at a fraction of the cost sent AI stocks plunging. Palantir shares fell roughly 4.4% on Monday, while Nvidia (NVDA) shares fell nearly 17%. The next big catalyst for Palantir will be its earnings release, and investors will be watching to see if the company can justify its premium valuation.