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Palantir Technologies Inc. (NYSE:PLTR) shares are trading lower on Thursday in the premarket session.
The company has inked an agreement with The Ministry of Education and Science of Ukraine to boost the education system and ensure the maximum number of children have access to safe in-person learning.
The deal, spanning 12 months, backs Ukraine’s School Offline program, enhancing safe educational access for 300,000 more students.
“Today’s agreement reinforces Palantir’s steadfast support for Ukraine, building on the use of our software to support the military effort, the resettlement of those forced to flee abroad, the investigation into war crimes and critical demining efforts,” Louis Mosley, Executive Vice President for UK and Europe at Palantir, said.
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The 100% offline initiative responds to Ukraine’s surge in online education due to Russia’s illegal invasion, prioritizing safe schooling for all, Palantir said in a press release.
Research estimates that more than 40% of children in Ukraine are relying on online or hybrid learning due to the war.
It has caused educational losses Ukrainian students lag behind the required level by 1.5 to 2.5 years of study, Palantir said.
“It will help to reduce the number of young people denied the basic human right of in-person education because of Russian aggression, as well as helping to shape the country’s education policy in the long term,” Mosley added.
“Palantir technologies will provide us with innovative tools for creating policies based on a data-driven approach,” said Dmytro Zavgorodnii, Deputy Minister of Education and Science of Ukraine for digital development, digital transformations, and digitalization.
According to Benzinga Pro, PLTR stock has gained over 206% in the past year. Investors can gain exposure to the stock via ProShares Big Data Refiners ETF (NYSE:DAT) and Global X Funds Global X Defense Tech ETF (NYSE:SHLD).
Price Action: PLTR shares are trading lower by 1.75% to $24.08 premarket on the last check Thursday.
Image via Shutterstock
