Shares of the artificial intelligence (AI) software company dropped as much as another 6% Monday morning. Even after paring some of that decline, shares are lower by 16% over a two-week span, including the 1.6% drop as of 12:30 p.m. ET today.

Palantir Technologies Inc (NASDAQ: PLTR) has pulled back rather significantly in recent weeks as investors bailed on high-flying artificial intelligence (AI) stocks due to valuation concerns. Despite the retreat,

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.