Palantir Technologies Inc. PLTR has reportedly entered into a strategic collaboration with the Israeli Defense Ministry to provide technology support for the nation’s military operations, following discussions between Israeli defense authorities and Palantir co-founders Peter Thiel and Alex Karp in Tel Aviv.
“Both parties have mutually agreed to harness Palantir’s advanced technology in support of war-related missions,” Executive Vice President of the company Josh Harris told Bloomberg today.
No additional information about the agreement was revealed, including the specific technology to be supplied, Bloomberg reported.
Palantir introduced its AIP (Artificial Intelligence Platform) last year, a system for intelligence and decision-making capable of analyzing enemy targets and suggesting battle strategies.
“This strategic partnership aims to significantly aid the Israeli Ministry of Defense in addressing the current situation in Israel,” Harris told Bloomberg.
Earlier this week, Karp told Bloomberg regarding Israel war, “Our products have been in great demand,” in an interview in Tel Aviv.
Karp, known for his vocal support of Israel, defended the military campaign. However, he acknowledged that there was some internal resistance within the company regarding its support of Israel in the conflict.
Also Read: Palantir Faces Scrutiny Over Alleged Contract Breach With NHS: Report
Price Action: PLTR shares are trading higher by 0.87% to $16.83 on the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
