Palantir Bags $85M, 5-Year US Army Contract

Palantir Bags $85M, 5-Year US Army Contract
  • The U.S. Army Materiel Command (AMC) selected Palantir Technologies Inc PLTR to support its prognostic and predictive maintenance and supply chain optimization efforts
  • The award totals $85.1 million over five years.
  • AMC will use Palantir's software to support logistics in contested environments, improve equipment reliability, and optimize the supply chain. 
  • Palantir's software will help to deploy an AI/ML capability that integrates high-volume maintenance, sensor, and supply data. 
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  • The system builds upon AMC's existing enterprise resource planning (ERP) and conditions-based maintenance (CBM) tools to provide a modernized operating capability that empowers users to take data-informed actions to leverage the Army's global assets more effectively. 
  • In September, Palantir won a $229 million deal to develop and deliver artificial intelligence and machine learning capabilities for the Special Forces, the Joint Staff, and every branch of the U.S. Armed Services
  • Price Action: PLTR shares traded higher by 0.06% at $8.43 on the last check Thursday.

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