By Chris Wack
Palantir shares up 8% to $24.56 during Friday's trading hours.
Palantir Technologies Inc. said it has been selected by the U.S. Special Operations Command to continue its work as their enterprise data management and AI-enabled mission command platform as part of the Mission Command System/Common Operational Picture program.
The company said the contract is valued at a total of $111 million, inclusive of options, with $52.5 million executed upon award. The total contract includes a base year and one option year.
Palantir's platform has been used by USSOCOM in real-time mission operations to interoperate with other components of the global situational awareness architecture since 2016. Its technology enables real-time collaboration across USSOCOM and its allies, giving its commanders situational awareness at a global scale, bringing AI to the battlefield, and improving the ability to respond to near-peer threats.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 28, 2021 07:19 ET (11:19 GMT)
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