Palantir Technologies Inc. PLTR shares are trading higher premarket on Thursday. On Wednesday, the company disclosed an extension of its partnership with the U.S. Army to continue delivering the Army Vantage capability for the “Army Data Platform.”
The agreement is valued at $400.7 million over four years, with a total potential ceiling of $618.9 million.
The new agreement aims to operationalize data across the entire Department of the Army, enabling broader integration of data and AI capabilities.
The program is set to expand, offering greater flexibility to support additional Army initiatives while enhancing interoperability and integration through advanced technology investments.
As of 2024, the Vantage program has supported over 100,000 users and achieved record-high usage.
The platform currently integrates more than 180 unique data sources, enabling seamless connectivity across the Army and Joint community.
Looking forward, the program will maintain its existing capabilities and infrastructure while expanding to serve mission owners across the entire Army enterprise.
Akash Jain, President, Palantir USG said, “Our continuous addition of new AI capabilities enables the Army’s own ability to develop applications and incorporate the benefits of effective data analysis across nearly every high-priority mission in the Army.”
Investors can gain exposure to the stock via Adaptiv Select ETF ADPV and ProShares Big Data Refiners ETF DAT.
Price Action: PLTR shares are up 1.97% at $72.92 premarket at the last check Thursday.
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