(MENAFN- Investor Ideas) Investorideas ( ), a leader in retail investor trading ideas for defense and tech Stocks issues a trading alert for Palantir Technologies Inc. (NASDAQ: PLTR ).
The stock reached new highs today, currently trading at $ 83.92, up 42.70, gaining 3.32% on over 53 Million as of this report. The record high of $85.22 was reached in earlier trading.
Fourth quarter earnings for Palantir stock are due after the market close on Feb. 3.
Looking at recent defense related news, In mid- December Palantir announced that it has extended its long-standing partnership with the U.S. Army to deliver the Army Vantage capability in support of the "Army Data Platform" (ADP). The total value of this agreement is $400,746,583 for a period of up to four years, with a total available ceiling of $618,871,428.
Since 2018, the Army has leveraged Palantir's software to transform how it uses data and artificial intelligence (AI) to more effectively perform essential missions and enable faster decision-making across the force. With an initial focus on understanding personnel readiness and combat readiness, Vantage has today become the core software system enabling ADP. ADP powers warfighters at every echelon and supports a diverse set of use cases across every data domain including readiness, logistics, recruiting, force management, talent management, financial management, risk management, and installation management.
This new agreement will operationalize data across the entire Department of the Army. The program anticipates continued growth and improvement by providing further flexibility to support additional Army programs with data and AI capabilities, fostering deeper integration and interoperability across the Department through leading technology investment.
"Palantir is proud to support the Army's commitment to more efficient, data-driven decisions through the successful expansion of the Vantage program," said Akash Jain, President, Palantir USG. "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."
To date, the Vantage program has supported over 100,000 users, achieving record high usage in 2024. Currently, more than 180 unique data sources are integrated with the Vantage ecosystem, providing seamless connectivity across the Army and the Joint community.
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