No other company currently in the S&P 500 has hit a $490 billion valuation as quickly and with as little in sales.

"We are yet again announcing the highest sequential quarterly revenue growth guide in our company's history," Co-Founder and CEO Alex Karp said, framing the quarter as further evidence of AIP's ability to leverage the power of AI for its customers.

Meanwhile, Veteran analyst Stephen Guilfoyle credits Palantir’s growth to strong fundamentals, noting, “Sales are running wild as are margins. The commercial business is exploding. Cash flows are not just robust; they are enormous. The balance sheet is simply the greatest balance sheet I can remember seeing. The CEO is focused and aggressive.”

Shares of Palantir fell more than 8% after market open on Tuesday, leading a broader market decline after the software firm reported better-than-expected earnings, as some economists warned of “rally exhaustion” after a meteoric rise for several stocks this year.

Palantir Technologies Inc. broke records once again with its third-quarter earnings as the company’s artificial-intelligence offerings drove aggressive business growth and sent the stock climbing 5% in Monday’s extended session.

Palantir Technologies fell around 6% on Tuesday as a strong quarterly update from the company failed to extend its record-breaking rally.

Palantir Technologies (PLTR) stock fell about 7% premarket on Tuesday despite third quarter results beating estimates and the company raising its full-year guidance.

Palantir Technologies Inc. shares dropped almost 8% on Tuesday, tumbling on concerns about the company’s lofty valuation and the sustainability of the AI rally, even after it topped analyst estimates for third-quarter sales and raised its annual revenue outlook.

Palantir Technologies forecast fourth-quarter revenue above analysts' estimates on Monday, as the rapid adoption of artificial intelligence boosts demand for its data analytics services from businesses and governments.