- Palantir Technologies Inc PLTR looks to build a new big data platform with South Korea’s Hyundai Heavy Industries Group.
- Hyundai Heavy will use Palantir’s data analysis software to improve the way its affiliate groups operate in fields including shipbuilding, offshore engineering, and energy and industrial machinery processes.
- The multi-year deal is worth over $25 million, Bloomberg reports.
- Once they build the platform, the companies will create a joint venture to commercialize the new tools.
- COO Shyam Sankar said the project represented a new model, allowing customers to only pay for what they use, and exercise more control over the process.
- Price Action: PLTR shares traded lower by 0.63% at $18.06 on the last check Wednesday.
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