Palantir Bags $85M, 5-Year US Army Contract

The U.S. Army Materiel Command (AMC) selected Palantir Technologies Inc PLTR to support its prognostic and predictive maintenance and supply chain optimization efforts.
The award totals $85.1 million over five years.
AMC will use Palantir's software to support logistics in contested environments, improve equipment reliability, and optimize the supply chain.
Palantir's software will help to deploy an AI/ML capability that integrates high-volume maintenance, sensor, and supply data.
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The system builds upon AMC's existing enterprise resource planning (ERP) and conditions-based maintenance (CBM) tools to provide a modernized operating capability that empowers users to take data-informed actions to leverage the Army's global assets more effectively.
In September, Palantir won a $229 million deal to develop and deliver artificial intelligence and machine learning capabilities for the Special Forces, the Joint Staff, and every branch of the U.S. Armed Services.
Price Action: PLTR shares traded higher by 0.06% at $8.43 on the last check Thursday.