Ken Griffin of Citadel sold 5.1 million shares of Palantir, reducing his stake by 91%. Meanwhile, he bought 4.7 million shares of Nvidia, increasing his stake by 194%. Nvidia is the second largest position in Citadel's portfolio, excluding options contracts and index funds.

Palantir Technologies stock (NASDAQ: PLTR) has had a solid run, rising by almost 4x since the beginning of the year to about $66 presently.

Palantir Technologies (PLTR) is an artificial intelligence (AI)-powered tech stock that has captured Wall Street's imagination in 2024. With a market cap of nearly $150 billion, Palantir stock has returned 280% to shareholders year-to-date.

It's been an excellent year for stock market investors. The S&P 500 index has delivered an excellent 26% return thus far in 2024, driven by resilient macroeconomic conditions, record corporate earnings, and growing optimism about artificial intelligence's (AI) transformative potential across the economy.