Why Palantir Technologies Shares Are Rising

Palantir Technologies Inc PLTR shares are trading higher by 3.99% to $15.10 Monday afternoon after the company announced a $463 million contract from the U.S. Special Operations Command.

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Palantir says the company empowers America's warfighters, including USSOCOM personnel, with top-notch software capabilities, ensuring their ongoing competitive advantage. This contract award strengthens their edge in the next phase of competition and enables effective decision-making by harnessing massive amounts of data.

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Palantir's Defense Portfolio drives rapid innovations in areas like Large Language Models (LLMs), reducing cognitive load and edge processing and AI for optimal real-time information integration.

Palantir also says the partnership exemplifies converting software innovation into battlefield advantage, as USSOCOM embraces cutting-edge technology.

According to data from Benzinga Pro, PLTR has a 52-week high of $15.70 and a 52-week low of $5.92.