Palantir Technologies ( PLTR -11.92%) stock had plunged 14% as of 10 a.m. ET on Tuesday, May 6, as investors reacted to its first-quarter financial results. The company reported solid results amid continued demand for its artificial intelligence (AI) platform, but the market clearly had higher expectations.

Shares of Palantir Technologies (NASDAQ:PLTR) tumbled 12% Tuesday morning after the artificial intelligence data analytics firm handily beat analyst first-quarter revenue and earnings forecasts while also raising its full-year outlook.

Live Updates Live Coverage Updates appear automatically as they are published. Morgan Stanley Weighs In 10:57 am by Eric Bleeker As of 11:00 a.m. ET, Palantir has erased some earlier losses and is now down 12%.