Palantir and Anduril's AI Alliance Boosts Stock to $80, USSOCOM Contract Secured

Dec 9, 2024, 12:32 PM

Palantir Technologies Inc. and Anduril Industries have formed a strategic alliance to enhance AI capabilities for defense customers. This partnership aims to accelerate AI development for national security applications. Additionally, Palantir has secured a $36.8 million contract extension with the U.S. Special Operations Command (USSOCOM) to further develop AI and mission capabilities. The announcement of these developments has led to a significant increase in Palantir's stock price, soaring past $80 in pre-market trading, reflecting investor optimism over the company's growth prospects. The collaboration has been described as akin to 'America's AI Avengers' coming together to achieve in months what would otherwise take a decade.