The Globe and Mail reports in its Wednesday edition that Palantir Technologies fell nearly 8 per cent on Tuesday as a strong quarterly update from the company failed to extend its record-breaking rally. A Reuters dispatch to The Globe says the company, which has more than doubled in value this year, forecast fourth-quarter revenue above market expectations after markets closed Monday, driven by a rapid artificial-intelligence adoption boosting demand for its data analytics services. The company's stock has been riding on its strong relationship with the U.S. government after it won a slew of contracts, including using Palantir's data and AI technology in defence work. Investor Michael Burry, known for his successful bets against the U.S. housing market in 2008, has now placed bearish bets on Nvidia and Palantir, according to a regulatory filing Monday. Late last month, Mr. Burry, in his first X post in more than two years, warned of a bubble, fanning investor concerns over inflated spending in the AI and tech industry. Palantir has emerged as a retail favourite over the years and trades at nearly 250 times its 12-month forward earnings estimates, compared with AI chip front-runner Nvidia's 33 and Microsoft's 29.92.