What's Going On With Palantir Technologies Stock Today?

Zinger Key Points
  • Palantir extends partnership with Eaton, deploying AI platform to modernize operations and enhance data management solutions.
  • Previously, collaboration resolved material shortages in Eaton's supply chain, now expanded to accelerate AI adoption.

Palantir Technologies Inc. PLTR shares are trading lower on Wednesday.

Today, the company announced an expansion of its partnership with Eaton Corporation ETN. The deal will bring Palantir’s Artificial Intelligence Platform (AIP) to Eaton’s operations.

In the past, Eaton and Palantir collaborated to create an AI-supported workflow for Eaton’s supply chain division.

This solution preemptively detected and resolved material shortages, averting downtime and facilitating the assembly of finished products.

“The scope and reach of Eaton, with operations in some 160 countries, along with its position as a leader in the energy transition, make it an ideal partner for Palantir,” said Danny Lutkus, commercial lead for industrials at Palantir. 

The extended partnership will provide a distinctive data management solution to expedite and modernize Enterprise Resource Planning (ERP) implementations using AI-driven data mapping and automation, according to a press release.

Palantir said it will aid Eaton’s AI innovation journey by offering a structured approach to transforming concepts into tangible outcomes. Additionally, a suite of AIP Now Marketplace applications will accelerate value generation across Eaton’s worldwide operations.

“Through the use of our software, we’re excited to increase the adoption of AI in Eaton’s operations and accelerate Eaton’s impact in powering the clean energy and AI revolution,” Lutkus added.

Price Action: PLTR shares are trading lower by 1.47% to $20.74 at last check Wednesday.

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