BigBear.ai (NYSE: BBAI) stock soared in morning trading on Thursday after the AI-powered analytics company announced that it had been awarded a contract worth $14.8 million from the U.S. Army.
BigBear.ai will implement the Global Force Information Management (GFIM) system in a 9-month contract and will be joined by Palantir Technologies (PLTR). Together, both companies will be “implementing an enterprise-wide intelligent automation platform that provides the Army with a holistic view of its global force structure.”
Ryan Legge, President, Analytics at BigBear.ai commented, “With BigBear.ai’s artificial intelligence capabilities, the Army can streamline processes and quickly make data-driven decisions on force structure, balance and readiness while bringing new levels of efficiency and confidence to every critical decision maker from senior leadership to combatant commanders.”
