Palantir Stock Is Rising. The Company Won a Big Defense Contract.

Palantir


stock is modestly higher after the data-analytics software company announced a contract from the Department of Defense worth up to $229 million. It’s a one year pact to support test and deployment of artificial intelligence and machine-learning capabilities across all branches of the armed services.

Palantir (ticker: PLTR) said the deal builds on a previously announced two-year, $99.9 million contract with the U.S. Army Research Laboratory to develop AI and ML capabilities. The company started working with the Army lab on AI applications in 2018.