What's Going On With Palantir Technologies Shares Today?

Author: Nabaparna Bhattacharya | April 17, 2024 08:52am

Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher in the premarket session on Wednesday.

The company announced that it has been designated as an ‘Awardable’ vendor for the Chief Digital and Artificial Intelligence Office’s (CDAO) Tradewinds Solutions Marketplace.

Palantir said that the Department of Defense can now access two of the company’s product offerings, including Palantir’s AI Mission Command Capability and its Predictive Maintenance & Precision Sustainment Suite, through the Marketplace to support critical missions.

“Achieving an ‘awardable’ status for our technologies within the Tradewinds Marketplace is an exciting moment for our company and our partners across Department of Defense,” said Akash Jain, President of Palantir USG.

Palantir’s capabilities, including its AI Platform (AIP) supporting solutions on the Tradewinds Solutions Marketplace, are utilized by U.S. Government agencies and Fortune 500 companies alike.

The Tradewinds Solutions Marketplace is a digital repository of post-competition, readily awardable capabilities that address the Department of Defense’s most significant challenges in the Artificial Intelligence/Machine Learning (AI/ML), data, and analytics space.

“This unique Marketplace for commercial technology adoption would not be possible without the agile acquisition authorities made available by Congress, as well as the Department’s leadership in embracing modern procurement solutions to ensure the U.S. maintains its edge over global competitors,” Jain added.

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Price Action: PLTR hares are trading higher by 0.64% to $22.02 premarket on the last check Wednesday.

Image via Shutterstock

Posted In: PLTR