Why Palantir Shares Are Rising Today

Palantir Technologies Inc PLTR is trading higher Tuesday morning after Satellogic Inc SATL announced a strategic partnership with the company.

The partnership is expected to accelerate the capabilities both companies can provide to customers in the field, combining technologies in satellite imaging, Edge AI and data-driven decision making.

Satellogic said it will leverage Palantir's Foundry platform to accelerate business processes, rapid image product delivery, AI model training and enterprise-wide data integration.

Foundry is expected to further enhance Satellogic's image-processing pipeline, which will unlock advanced image and geospatial products for customers. Palantir’s government and commercial customers will have access to Satellogic's APIs to power their use of Palantir’s MetaConstellation and Edge AI capabilities.

"Combining the forces of Palantir’s Edge AI technology with Satellogic’s frequent high-resolution imagery will give users actionable insight faster than ever, accelerating their operations from space to mud," said Shyam Sankar, COO of Palantir.

See Also: Is Palantir's Stock Too Cheap? Guy Adami Thinks So

PLTR Price Action: Palantir has traded as low as $11.75 and as high as $39.22 over a 52-week period.

The stock was up 4.67% at $14.35 at time of publication.

Photo: Cory Doctorow from Flickr.