Why Are Palantir Shares Trading Higher Thursday?

Palantir Technologies Inc. PLTR shares are moving higher after the company announced a strategic partnership with Voyager Space. This collaboration aims to leverage artificial intelligence (AI) to advance the space and defense technology sectors by integrating Palantir's AI tools across the Voyager enterprise.

What’s Going On: Building on a previous Memorandum of Understanding announced earlier this year, this partnership enhances Voyager’s defense segment by utilizing AI to process and optimize flight and testing data for solid fuel thrusters.

Additionally, Palantir's software will support real-time signal data processing and improve targeting for Voyager's optical communications systems used by the Department of Defense.

Voyager will leverage Palantir Foundry and the Artificial Intelligence Platform to add value to its in-house payload management system for International Space Station customers and onboard the Starlab commercial space station in the future.

PLTR Price Action: Palantir shares were up 4.23%, trading at $25.12 at the time of writing, according to Benzinga Pro.