Palantir's Stock Soars on Extended U.S. Army Contract and AI Consortium Talks

Palantir Stock Is Trading At All-Time Highs: What's Going On? - Palantir Technologies (NASDAQ:PLTR)

Palantir and Anduril are in talks with competitors about potentially forming a consortium to jointly bid on U.S. government contracts. Palantir Technologies Inc PLTR shares are hitting new highs on Tuesday. Here's a look at what's going on. What To Know: Palantir shares are up more than 380% since the start of the year, driven largely by the company's positioning in the AI space. The rally in Palantir shares accelerated at the beginning of November after the company reported strong quarterly results driven by "unrelenting" AI demand. Revenue jumped 30% year-over-year on continued strength in the U.S. and customer count grew 39% after the company closed 104 deals worth over $1 million during the quarter. "The growth of our business is accelerating, and our financial performance is exceeding expectations as we meet an unwavering demand for the most advanced artificial intelligence technologies from our U.S. government and commercial customers," Alex Karp, co-founder and CEO of Palantir, said in a letter to shareholders last month. Check This Out: Investors Aggressively Bought Stocks, ETFs In Volatile Fed Week: Bank Of America Reveals Largest Inflows Since 2017 Over the weekend, the Financial Times reported that Palantir and defense technology company Anduril are communicating with several competitors about the potential of forming a consortium to make a joint bid on U.S. government contracts. The report indicates that SpaceX and OpenAI are among the companies in talks to join. The group is planning to announce itself publicly as soon as January, people with knowledge of the matter said. "We are working together to provide a new generation of defense contractors," one person involved in organizing the group reportedly said. The Financial Times further reported that tie-ups between some tech groups expected to be involved with the consortium have already started. Palantir's AI platform was integrated with Anduril's autonomous software earlier this month and Anduril has linked its counter-drone systems with OpenAI models. Palantir announced last week that it extended its long-standing partnership with the U.S. Army through 2028. The four-year agreement extension is valued at more than $400 million and has a total available ceiling of approximately $619 million. By leveraging Palantir's software, the U.S. Army is able to create AI-enabled data solutions to analyze information from multiple data sources, enabling operational efficiencies and optimizing business processes. PLTR Price Action: Palantir shares were trading at all-time highs at last check. The stock was up 1.31% at $81.79 at the time of publication Tuesday, according to Benzinga Pro. Photo: Shutterstock. PLTRPalantir Technologies Inc$82.322.01%Overview Rating:Speculative37.5%Technicals Analysis660100Financials Analysis200100WatchlistOverviewMarket News and Data brought to you by Benzinga APIs

Palantir Defies Gravity: Army Deal, Nasdaq 100 Spotlight Fuel Rally - Palantir Technologies (NASDAQ:PLTR)

Palantir extends U.S. Army contract worth up to $618.9M, boosting its bullish momentum. Palantir Technologies Inc. PLTR is proving unstoppable, with shares soaring following the announcement of a significant U.S. Army contract extension on Thursday. This deal, which could reach $618.9 million over four years, underscores Palantir's growing role in delivering cutting-edge AI and data solutions for military operations. Read More: Palantir Strengthens Army Partnership, Adds AI And Data Enhancements In $618.9 Million Contract Palantir's Winning Partnership With The Army Since 2018, Palantir has been a cornerstone of the Army's Vantage program, empowering decision-making with advanced analytics and AI. The company's software integrates and visualizes data from multiple sources, enabling operational efficiencies and optimizing processes across the Army enterprise. With over 100,000 users, Vantage set a usage record this year, solidifying Palantir's reputation as a go-to tech partner. Chart created using Benzinga Pro Technical Tailwinds Could Push PLTR Stock Higher From a technical standpoint, PLTR stock is in strong bullish territory: Eight-day SMA: $73.58 (PLTR at $71.03 - selling pressure signals) 20-day SMA: $70.76 (bullish signal) 50-day SMA: $58.42 (bullish signal) 200-day SMA: $34.95 (bullish signal) With a Relative Strength Index (RSI) of 56.46, the stock isn't overbought, suggesting room for further gains. The MACD of 4.23 reflects ongoing bullish momentum, adding weight to the upward trajectory. What's Next For Palantir Stock? As if the contract extension wasn't enough, Palantir will join the Nasdaq 100 Index next Monday, a move expected to draw even more attention from institutional investors. Having already skyrocketed over 330% this year, PLTR stock is showing no signs of slowing down, cementing its status as one of the year's top-performing tech stocks. With the U.S. Army deal and Nasdaq 100 inclusion, Palantir continues to defy gravity. Investors should prepare for what might be a transformative chapter in its growth journey. Read Also: Cathie Wood's Thursday Moves: Dumps Buzzing Stocks Tesla And Palantir Photo: Dennis Diatel/Shutterstock.com Market News and Data brought to you by Benzinga APIs

Palantir Strengthens Army Partnership, Adds AI And Data Enhancements In $618.9 Million Contract - Palantir Technologies (NASDAQ:PLTR)

The agreement enhances data and AI integration for the Army, supporting over 100K users and expanding its mission scope. Palantir Technologies Inc. PLTR shares are trading higher premarket on Thursday. On Wednesday, the company disclosed an extension of its partnership with the U.S. Army to continue delivering the Army Vantage capability for the "Army Data Platform." The agreement is valued at $400.7 million over four years, with a total potential ceiling of $618.9 million. The new agreement aims to operationalize data across the entire Department of the Army, enabling broader integration of data and AI capabilities. The program is set to expand, offering greater flexibility to support additional Army initiatives while enhancing interoperability and integration through advanced technology investments. As of 2024, the Vantage program has supported over 100,000 users and achieved record-high usage. The platform currently integrates more than 180 unique data sources, enabling seamless connectivity across the Army and Joint community. Looking forward, the program will maintain its existing capabilities and infrastructure while expanding to serve mission owners across the entire Army enterprise. Akash Jain, President, Palantir USG said, "Our continuous addition of new AI capabilities enables the Army's own ability to develop applications and incorporate the benefits of effective data analysis across nearly every high-priority mission in the Army." Investors can gain exposure to the stock via Adaptiv Select ETF ADPV and ProShares Big Data Refiners ETF DAT. Price Action: PLTR shares are up 1.97% at $72.92 premarket at the last check Thursday. Read Next: Palantir's Alex Karp Embraces 'Cult' Status, Complains About The Missing Perks As Stock Soars 350% Image via Shutterstock. Market News and Data brought to you by Benzinga APIs

Palantir's Stock Gains After Extending Army Contract Worth $619 Million

With Thursday's gains, the stock has more than quadrupled in value since the start of the year. Palantir Technologies (PLTR) shares gained Thursday after the analytics software provider said it extended a contract with the U.S. Army that could be worth more than half a billion dollars. The company said the agreement has a value of $400.7 million for up to four years, with a potential to reach $618.9 million. Palantir and the Army have partnered since 2018 in a program known as Army Vantage, with Palantir providing the Army with "data and artificial intelligence (AI) to more effectively perform essential missions and enable faster decision-making across the force." The company added that with its software, "the Army is able to create AI-enabled data solutions that integrate, analyze, and visualize information from multiple disparate data sources to better enable operational efficiencies and optimize business processes across the Army enterprise." Palantir said so far Vantage has supported more than 100,000 users, with a record number set this year. Shares of Palantir climbed close to 4% Thursday following the news and have more than quadrupled in value since the start of the year. The stock is set to join the Nasdaq 100 Index next Monday.