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Palantir Secures $463M Contract From US Special Operations Command

Palantir Technologies Inc (NYSE:PLTR) has secured a contract worth up to $463 million from the US Special Operations Command…
byAkanksha Bakshi
June 5, 2023
1 minute read
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  • Palantir Technologies Inc (NYSE:PLTR) has secured a contract worth up to $463 million from the US Special Operations Command (USSOCOM) to deliver technology solutions to support enterprise capabilities.
  • Palantir provides software capabilities for the men and women of USSOCOM, and this contract award will help ensure their continued competitive advantage in this next phase of the competition. 
  • The Defense Portfolio of Palantir is undergoing rapid innovation. Improvements in edge processing and edge AI are among them, as are improvements in Large Language Models (LLMs), which lighten the cognitive burden on commanders and soldiers.
  • Also Read: Palantir CEO Says US Should Wield ‘Dangerous’ AI Or ‘Our Adversaries Will’
  • “Our partnership is an example of converting software innovation into real battlefield advantage. USSOCOM is at the forefront of adopting leading edge technology,” commented Akash Jain, President of Palantir USG.
  • Price Action: PLTR shares are trading higher by 5.17% at $15.27 on the last check Monday.
 
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