AI

Palantir Stock on Record Course: New Cooperation with Anduril Strengthens Market Position in AI and National Security

New strategic collaborations and political support are driving Palantir's stock to new record highs.

Eulerpool News Dec 10, 2024, 12:12 PM

The stock of US software provider Palantir continues its impressive rally. In pre-market trading on Monday, the share rose by 6.63 percent to $81.40 on NASDAQ. Already on Friday, the stock had reached an all-time high of $76.82. Since the beginning of the year, Palantir has achieved a price increase of nearly 345 percent.

Palantir currently benefits from a series of positive developments. According to media reports, Donald Trump is considering appointing Shyam Sankar, Chief Technology Officer of Palantir, to a leading position in the Pentagon. At the same time, the company recently announced several strategic partnerships, including with Shield AI and Booz Allen Hamilton. On Monday, a collaboration with Anduril, a company specialized in defense technology, was also announced.

Palantir and Anduril plan to form a consortium to secure the U.S. technological leadership in artificial intelligence. According to a statement, two main problems that have hindered the use of AI in national security are to be solved: lack of data availability and insufficient processing capacities.

Many crucial data essential for AI training and inference are being lost," emphasized Palantir. Anduril's Lattice software system is to be used here. Additionally, Palantir's AI platform will provide a cloud-based data management and development infrastructure that meets the special requirements of national security.

The cooperation aims to equip the US government and industry with advanced technology for national security. Both companies see long-term opportunities for expansion to additional partners. The market views the collaboration as pioneering, further supporting the rise in Palantir's stock price.

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