Palantir Technologies Inc (NASDAQ:PLTR) shares are trading lower Wednesday as the stock continues to pull back following a strong run in recent weeks. Here's what you need to know.

Andrew Left argues that investors have overhyped Palantir stock, and its valuation pales in comparison to a true AI leader like OpenAI.

Nvidia, Palantir and other superstar stocks that surged to records in the mania around artificial-intelligence technology are under pressure again on Wednesday and dragging Wall Street lower. The S&P 500 fell 0.

Nvidia, whose chips are powering much of the world's move into AI, dropped 3.7% and was on track to be the heaviest weight on Wall Street for a second straight day following its 3.5% fall on Tuesday. Palantir Technologies, another AI darling, sank 9.3% to add to its 9.4% loss from the day before.

Wall Street's main indexes were down on Monday, as investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the Federal Reserve's annual symposium in Jackson Hole.