Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher on Thursday.
The company inked a pact with Oracle Corporation (NYSE:ORCL) to provide secure cloud and AI solutions to power businesses and governments worldwide.
As part of the agreement, Palantir will move Foundry workloads to Oracle Cloud Infrastructure.
“Palantir and Oracle are both dedicated to defending western interests and institutions around the world,” said Josh Harris, executive vice president of Palantir.
Oracle’s distributed cloud and AI infrastructure, paired with Palantir’s top AI and decision acceleration platforms, aims to optimize data value, and competitive edge, according to a press release.
Palantir will also make its Gotham and AI Platforms deployable across Oracle’s distributed cloud.
Leveraging Oracle’s extensive cloud presence and sovereign AI expertise, more organizations can access Palantir’s top-tier platforms for seamless data integration and informed decision-making.
“Oracle Cloud Infrastructure’s unique ability to help customers meet their regulatory, performance, and security needs will increase our impact and help our global clients gain the full benefits of cloud and AI,” Harris added.
According to Benzinga Pro, PLTR stock has gained over 180% in the past year. Investors can gain exposure to the stock via ProShares Big Data Refiners ETF (NYSE:DAT) and Global X Funds Global X Defense Tech ETF (NYSE:SHLD).
Oracle Cloud offers over 100 cloud services and applications, including cutting-edge generative AI, across various environments like commercial, sovereign, and government air-gapped ones, the release added.
With consistent services and pricing, Oracle Cloud Infrastructure ensures simplicity, portability, and easy management across all deployment types.
ORCL stock has gained over 35% in the past year. Investors can gain exposure to the stock via IShares Expanded Tech-Software Sector ETF (BATS:IGV) and Themes Cloud Computing ETF (NASDAQ:CLOD).
Oracle and Palantir will jointly sell and support cloud and AI services across government and commercial industries.
Price Action:Â PLTR shares are trading higher by 3.95% to $21.97 on the last check Thursday, while ORCL shares are trading higher by 0.57% to $126.96.
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