Palantir, Hyundai Collaborate In A Deal Worth Over $25M

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Palantir Technologies Inc PLTR looks to build a new big data platform with South Korea’s Hyundai Heavy Industries Group.
Hyundai Heavy will use Palantir’s data analysis software to improve the way its affiliate groups operate in fields including shipbuilding, offshore engineering, and energy and industrial machinery processes.
The multi-year deal is worth over $25 million, Bloomberg reports.
Once they build the platform, the companies will create a joint venture to commercialize the new tools.
COO Shyam Sankar said the project represented a new model, allowing customers to only pay for what they use, and exercise more control over the process.
Price Action: PLTR shares traded lower by 0.63% at $18.06 on the last check Wednesday.

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