Peter Thiel sold almost $600 million of Palantir Technologies Inc. stock this week, bringing his total disposals this year to more than $1 billion.

Palantir established itself as a top data analytics and AI tech company that helps the government in some of its most important mission-critical tasks. Its services have been used to fight terrorism and track COVID-19 cases during the pandemic.

Palantir Technologies Inc. (NYSE: PLTR) began trading as a member of the S&P 500 index on September 23, 2024. Inclusion in the index was a long-time goal of Palantir. It’s also a significant milestone for retail investors who have largely driven the growth of PLTR stock since it went public via a direct listing in 2020.