Palantir Technologies Inc. PLTR shares are trading higher on Friday.
Yesterday, the company inked a pact with Oracle Corporation 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.
According to Benzinga Pro, PLTR stock has gained over 189% in the past year. Investors can gain exposure to the stock via ProShares Big Data Refiners ETF DAT and Global X Funds Global X Defense Tech ETF SHLD.
In a 13G exchange filing, the Denver-based analytical software company said it owns a 6.5% stake in healthcare recoveries and data analytics company MSP Recovery, Inc LIFW.
Palantir currently holds 955,647 shares of MSP Recovery.
Price Action: PLTR shares are trading higher by 2.87% to $23.13 on the last check Friday.
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