TECH - Palantir Stock Shrugs Off Cramer's Sell Call As $480M AI Contract For Army Fuels Premarket Rally | Benzinga
Palantir Technologies (NYSE:PLTR), a company specializing in data analytics and AI platforms, is riding a wave of new deals. The U.S. Department of Defense added to the momentum on Wednesday by awarding Palantir a new contract.
What Happened: Palantir has been awarded a U.S. Army $480 million fixed, firm-price contract for the Maven Smart System (MSS) prototype, information on the DOD’s website showed. The award was done following the solicitation of a sole bid. The federal agency said work locations and funding will be determined with each order, with an estimated completion date of May 28, 2029.
A statement released by the Kentucky National Guard in February said Palantir’s MSS ...