What's Going On With Software Company Palantir Shares Today?

Palantir Technologies Inc. PLTR received a contract extension from the U.S. Army's Program Executive Office for Enterprise Information Systems (PEO EIS) to continue operating and enhancing the Army Vantage data-driven operations and decision-making platform.

The total contract value, including options, is $115.04 million, with $97.35 million awarded and initial funding obligated of $35.6 million.

This contract is a one-year continuation of the company's work in support of the U.S. Army's goal to form a long-standing Army Data Platform (ADP) capability. 

Throughout the program's lifespan, Army Vantage has enabled the Army to recoup savings on over $700 million in additional de-obligated funds per year, amounting to nearly $4 billion since the program's instantiation.

"Palantir is honored to extend our work with the U.S. Army as it evolves into the Army Data Platform solution," said Akash Jain, President of Palantir USG.

Under the extended contract, Palantir will continue to provide its open data and analytics platform through continuous delivery to provide new AI-enabled capabilities and open platform infrastructure that promotes the program's evolution to the Army Data Platform vision. 

On Tuesday, Palantir announced a strategic collaboration with PlasCred Circular Innovations focused on integrating advanced AI technology into PlasCred's environmental efforts.

On Wednesday, Palantir announced a renewed partnership with UniCredit. The company will deploy Palantir Foundry to accelerate its digital transformation and help increase revenue and mitigate risks.

Read Next: Costco Q1 Earnings Performance: Revenue And EPS Beat, Comps Up 3.1%, Special Cash Dividend And More

Price Action: PLTR shares are trading higher by 3.82% to $18.91 on the last check Friday. 

Photo via Company