- Palantir Technologies Inc PLTR stock is up Thursday after it disclosed a collaboration with the Ministry of Digital Transformation of Ukraine to support the defense and reconstruction of the country in the wake of the Russian invasion.
- The deal will pave the way for cooperation in critical areas like cataloging, assessing damage to buildings and infrastructure, and harnessing software to optimize reconstruction.
- Palantir, a leading software company and cloud solutions provider, will help enhance the digital capabilities for electronic public services providing the defense and reconstruction of Ukraine.
- It will support and coordinate a digitally-led reconstruction of Ukraine.
- The company will help consolidate the efforts in the field of digitalization, digital innovations, and integration of Ukraine into the international market.
- It will also help promote the implementation of projects with the support of the Armed Forces of Ukraine.
- Palantir will help Ukraine become a digital leader in Europe by consolidating efforts in digitalization, digital innovations, and integration of Ukraine into the international market.
- With the Armed Forces of Ukraine, Palantir will contribute to exchanging data and experience in implementing world-leading technology.
- Palantir CEO Alex Karp was the first Western CEO to visit President Volodymyr Zelenskyy in Ukraine after the war broke out, with Palantir employees since then assisting the Ukrainian Government in its efforts on the ground.
- Palantir's support for Ukraine includes providing software to Ukrainian forces and supporting the resettlement of Ukrainian refugees.
- The stock has gained over 91% YTD, backed by compelling results for the last two quarters, compelling Jim Cramer to re-think. Last week, Cathie Wood's Ark Invest on Wednesday added 1.26 million shares to its kitty valued at $13 million.
- Price Action: PLTR shares traded higher by 10.1% at $13.46 premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In:
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
