Palantir Technologies' ( NYSE: PLTR) Chairman Peter Thiel sold over $600M worth of the company's stock this week, bringing his total disposals this year to over $1B. The venture capitalist sold about 16.17M common shares over three days this week, according to regulatory filings with the SEC. Thiel had also sold shares in May.

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.