Palantir Stock Continues To Climb After U.S. Army AI Contract: What's Going On?

Palantir Technologies, Inc. PLTR shares continued trading higher Thursday. The stock is moving on upward momentum after the company was awarded a $250 million government contract on Tuesday. 

What To Know:

Palantir shares continue to climb after the U.S. Department of Defense awarded the company a $250 million firm-fixed-price contract for artificial intelligence (AI) services.

Shares of PLTR are up more than 12% since Wednesday when news of the large contract first surfaced. 

Palantir Technologies' CEO Alex Karp expressed his willingness to work with the government in the AI field on CNBC's "Squawk On The Street."

Karp said, "The Silicon Valley motto has been 'I get rich, you get nothing,' and they obviously often have extended that to the U.S. government."

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PLTR Price Action: According to data from Benzinga Pro, Palantir Technologies shares are up 6.2% at $15.77 at the time of publication.

Image: Gerd Altmann from Pixabay