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Palantir Technologies (NYSE:PLTR) was awarded a contract worth up to $250M by the Army to scale artificial intelligence, or AI, and machine learning, or ML, capabilities.
The contract — which is for up to three years, through 2026 — will provide additional capabilities in support of the Combatant Commands, or COCOMs, Armed Services, Intelligence Community, and Special Forces as they test, use and scale AI and ML capabilities.
The company said it has partnered with the Army since 2018 and the new phase will advance the Joint All-Domain Command and Control, or JADC2, efforts across these forces.
PLTR +1.65% to $17.90 premarket Oct. 10
