Palantir Technologies Secures Up To $463 Mln Contract From US Military

(RTTNews) - Palantir Technologies Inc. (PLTR) announced on Monday that it has secured a contract from US Special Operations Command or USSOCOM for up to $463 million.

It is a multi-year contract and Palantir has to deliver technology solutions to support enterprise capabilities.

The company is expected to help USSOCOM to parse the petabytes of data and enable decision making.

"Palantir is driving rapid innovations across its Defense Portfolio. These include advancements in Large Language Models (LLMs) to reduce cognitive load on warfighters and commanders; as well as advancements in edge processing and edge AI to maximize the warfighter's ability to integrate and utilize real-time information", the company said in a statement.

In premarket activity, shares of Palantir were trading at $14.50, down 0.14% or $0.02 on the New York Stock Exchange.