Sep. 2 at 8:46 PM
Palantir Technologies shares fell at midday after Google DeepMind unveiled Gemini 3.8 Flash Cyber, an AI model focused on cybersecurity, vulnerability detection and automated patching. Available through Google’s new Fairwind Program for government agencies, critical infrastructure operators and software developers, the model targets key customer segments for Palantir and raised fresh competitive concerns.
The decline came despite Palantir securing a U.S. Army production contract to build next-generation ground target-designation stations. Sector rotation also weighed on the stock, with software shares broadly under pressure, while ARK Invest sold roughly
$26 million of Palantir shares on Aug. 31.
The iShares Expanded Tech-Software ETF fell about 3% at midday, compared with a roughly 0.7% decline for the aerospace and defense ETF, highlighting the concentrated pressure on software stocks.
$PLTR