Nvidia has generated remarkable growth since the advent of AI. In fact, over the past three years, its stock price has gained 489% (as of this writing). The company has benefited from an unprecedented data center buildout, which requires a vast number of its AI-centric chips.

Palantir (NASDAQ: PLTR) stock saw big sell-offs in Wednesday's trading. The software specialist's share price ended the daily session down 10.1% and had been off as much as 12.9% earlier in trading. Palantir stock saw a pullback early in today's trading following a disclosure yesterday that CEO Alex Karp plans to sell $1.

Related: Walmart, Booking.com will rock markets in a busy earnings week But there was probably more behind the selling, including that Palantir's shares had become way too pricey and were vulnerable to a selloff.