While there doesn't appear to have been any major business news behind Palantir's valuation contraction today, the broader market saw moderate selling pressures that seem to have impacted the stock. The stock is now down 10% over the last week of trading and 16% from its all-time high.

Three stocks that have my attention right now are Nvidia (NASDAQ: NVDA), Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), and Meta Platforms (NASDAQ: META). This trio has a ton going for them, and will likely be among the major winners in the AI arms race.

The tumble stood in stark contrast to the stock's 147% year-to-date ascent up until that point, a rally driven by fervid retail investors and market-wide excitement around the growth potential of AI.