Duquesne Family Office's chief is cashing in his chips on two leading artificial intelligence (AI) stocks in favor of a drugmaker whose shares are up by 112% for the year.

Palantir is a “rare cult with no sex and very little drugs and we’re not poisoning anyone,” quipped its billionaire CEO in a recent sitdown.

As you can see, the company's price-to-sales ratio has nearly quadrupled over the last year. The P/S ratio isn't a perfect measure of valuation, but 67.5 is off-the-charts high. A P/S of 20 is typically considered expensive, even in an industry like software where stocks tend to earn high valuations.

With its stock up 2,500% in the past five years, it's perhaps not surprising that investors are looking for the next Nvidia (NASDAQ: NVDA). The company has been the biggest winner from the artificial intelligence (AI) boom and as a result has become one of the largest companies in the world.

Shares of both Palantir Technologies (NASDAQ: PLTR) and Nvidia (NASDAQ: NVDA) have delivered stunning gains this year thanks to the growing demand for both artificial intelligence (AI) hardware and software,

Palantir Technologies stock (NASDAQ: PLTR) remains up by over 4x since the beginning of the year, trading at about $74 per share.

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Palantir's stock has surged without any selling pauses, raising concerns about a potential sharp pullback. Explore more details here.

Palantir delivered an encouraging financial performance in the third quarter. Its customer count increased 39% to 629, and the average existing customer spent 18% more. In turn, revenue jumped 30% to $726 million, the fifth straight sequential acceleration. Meanwhile, non-GAAP earnings soared 42% to $0.10 per diluted share.

The Dow Jones rose on the stock market today. Magnificent Seven names Amazon and Nvidia were strong. American Airlines stock skidded.

If you are sick of hearing about artificial intelligence (AI) on Wall Street, I have some bad news. This theme is unlikely to go away anytime soon. The market is incredibly broad, spanning technologies like voice recognition,

Druckenmiller's Duquesne Family Office sold Nvidia and Palantir stocks while increasing stake in Teva Pharmaceutical, signaling a shift in investment focus.