Stimulation of horse platelets with platelet-activating factor (PAF) induces a rapid degradation of phosphatidylinositol 4,5-bisphosphate [Ptdlns(4,5)P2j. Addition of 0.1 JM PAF for 5 sec to platelets prelabeled with 32P induces a 50% loss of [32P]Ptdlns(4,5)P2. 32P-Labeled phosphatidylinositol 4-monophosphate (PtdIns4P) and [32P]phosphatidylinositol (PtdIns) also are decreased, albeit at a slower rate. Loss Of 32P radioactivity correlates with a net loss of fatty acids from both polyphosphoinositides. Stimulation of platelets with PAF also produces formation of [32P]phosphatidic acid and [32P]lysophosphatidylinositol. The initial disappearance of inositol lipids is subsequently followed by resynthesis, as evidenced by increased incorporation of 32p into Ptdlns(4,5)P2, PtdIns4P, and PtdIns. The resynthesis of the inositides increases with time and is proportional to the concentration of PAF. Prostacyclin (1 ,uM) inhibits (i) the formation of phosphatidic acid and lysophosphatidylinositol and (ii) the resynthesis of polyphosphoinositides induced by 0.03 ,uM PAF without affecting the initial loss of Ptdlns(4,5)P2. The loss of inositol lipids appears to be a primary event of platelet activation. The initial loss of polyphosphoinositides might be linked to the initiation of cellular activation by mobilizing membrane-bound Ca2+, whereas the subsequent formation of these lipids might be involved in mechanisms to prevent overstimulation of the cell.Platelet-activating factor (PAF), a phospholipid mediator of anaphylaxis (1), is released from leucocytes after immunologic and nonimmunologic stimulation (2). The structure of this compound has been elucidated as 1-O-alkyl-2-acetyl-sn-glyceryl-3-phosphorylcholine (3, 4). PAF induces hypotension (5, 6), neutropenia, and thrombocytopenia in vivo (7,8); in vitro, PAF promotes chemotaxis and degranulation in neutrophils (9-11) and induces shape change, release of granule content, and aggregation in platelets (12)(13)(14)(15)(16).The biochemical mechanisms by which PAF elicits physiological responses are not fully understood. In platelets, PAF has been shown to stimulate the phosphatidylinositol (PtdIns) cycle (16, 17), release of arachidonic acid from membrane phospholipids (16,18), and the phosphorylation of specific proteins (10). These biochemical responses are induced also by other platelet stimuli such as ADP, thrombin, or ionophore A23187 (19)(20)(21) and are thought to be the consequence of the release of Ca2" from a cellular pool inaccessible to chelating agents (20,22,23 The publication costs of this article were defrayed in part by page charge payment. This article must therefore be hereby marked "advertisement" in accordance with 18 U. S. C. §1734 solely to indicate this fact. platelets (25). Because PtdIns(4,5)P2 might provide Ca2+-binding sites in the plasma membrane (26-28), it has been suggested that the rapid loss of this phospholipid might be a mechanism by which the initial release of Ca2+ could be achieved (25). We now show that PAF also causes a ra...