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Palantir (PLTR.US) signs new contract with the U.S. military, delivering $36.8M annually

Market IntelMonday, Dec 9, 2024 8:40 am ET

1min read

The stock of Palantir Technologies (PLTR.US) rose more than 7% before the market opened on Monday after the U.S. Special Operations Command (USSOCOM) expanded its contract with the company to provide advanced artificial intelligence and mission manager functions.

The contract establishes Palantir as the lead software integrator for USSOCOM's mission command system, with a delivery value of $36.8 million over one year.

The award marks the first deployment of Palantir's mission manager to special forces. The mission manager leverages Palantir's secure, Kubernetes-based infrastructure to streamline the process of bringing emerging technologies from commercial software providers into a secure environment.

The expanded agreement also supports pilot projects across the broader command, including efforts to bring Palantir's advanced artificial intelligence capabilities to USSOCOM.

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