Palantir Seals Whopping Deal With Pentagon For AI Expansion

Palantir Technologies Inc. PLTR received a new contract from the Army, set to last up to three years. 

This contract, valued at up to $250 million through 2026, was publicized on the Department of Defense contracting website last week.

The order aims to expand support for the Combatant Commands (COCOMs), Armed Services, Intelligence Community, and Special Forces. 

"We're honored to expand our partnership with the Army to continue delivering the most innovative technologies and advanced data applications across the Armed Services," said Akash Jain, President, of Palantir USG. 

Also Read: Palantir Technologies and PwC Collaborate to Accelerate Operational Transformation

Since 2018, Palantir has partnered with the Army to provide leading data integration, management, and AI model training to all Armed Services. 

Building on the partnership, this new phase will further the Joint All-Domain Command and Control (JADC2) efforts across these forces.

The focus is on enhancing the testing, utilization, and scaling of artificial intelligence (AI) and machine learning (ML) capabilities, the company said.

In the realms of AI development, last month, the company's CEO Alex Karp openly expressed that tech firms should actively cooperate with the U.S. government and prospective regulations surrounding it.

"Maturing new concepts for how we deploy solutions in different contexts is key to maintaining our nation's competitive advantage, and we appreciate the opportunity to support this mission," Jain added.

Now Read: Unmasking AI: Pentagon Seeks Transparency From Top LLM Companies To Confront Ethical Challenges

Price Action: PLTR shares are trading higher by 3.24% to $18.18 on the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.