Intelligence software solutions provider Palantir Technologies (NYSE:PLTR) has bagged a multi-year contract worth $463 million from the U.S. Special Operations Command (USSOCOM) for providing solutions in supporting enterprise capabilities.
The company helps USSOCOM in parsing large volumes of data resulting from present-day environments and arriving at decisions. Further, it is also driving innovation across large language models in lowering loads on warfighters as well as commanders as also edge processing, and edge AI to improve real-time data utilization.
The President of Palantir USG, Akash Jain commented, “Our partnership is an example of converting software innovation into real battlefield advantage…we look forward to helping the command maintain its decision advantage into the next era of competition and are deeply appreciative of the opportunity to continue serving this critical community.”
Overall, the Street has a $10.17 consensus price target on PLTR alongside a HOLD consensus rating. Shares of the company have surged nearly 91% over the past month alone.
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