Palantir Technologies, APA Announce Multi-year, Multi Million Partnership Extension

(RTTNews) - Palantir Technologies Inc. (PLTR), a builder of artificial intelligence systems, and APA Corp. (APA), an oil and gas company, on Wednesday announced a multi-year, multi-million-dollar extension to their enterprise agreement signed in 2021.

The agreement will be based on the work deployed across APA's global portfolio over the past three years. New AI capabilities will be introduced with Palantir's Artificial Intelligence Platform or AIP software.

Over the past three years, Palantir has partnered with APA to deploy the software across use-cases as varied as operational planning, supply chain management, maintenance planning, and others.

Palantir's AIP software has enabled APA to move quickly against opportunities across its portfolio, including newly acquired assets.

Palantir has helped APA improve production equipment reliability via real-time monitoring, optimize raw material logistics, and leverage AIP across contract and invoice documents to detect anomalies against source systems.