Planned cuts to defense spending sparked a sell-off for Palantir stock that has continued into this week. Shares have tumbled after touching records.

Shares of Palantir Technologies ( PLTR -10.53%) are trading lower on Monday. The company's stock lost 8.4% as of 11:50 a.m. after losing as much as 11.9% earlier today. The drop comes as the S&P 500 was flat while the Nasdaq Composite lost 0.4%.

It’s tempting to get more aggressive at this phase in the AI boom, with tech stocks blasting off to new heights. Undoubtedly, we’ve all heard that valuations are on the high end. And with Warren Buffett’s Berkshire Hathaway (NYSE:BRK-B) continuing to build up that cash hoard to new record levels,