Zhitong Finance and Economics has learned that Palantir Technologies (PLTRUS) was in the spotlight on Wednesday. The U.S. Army confirmed that the enterprise software company's subsidiary has won a two-year contract and will begin the third phase of work on its next-generation target targeting system. As of press time, the company's stock price is in pre-market trading**932% to 2603 USD.
It is reported that Titan is the U.S. Army's next-generation depth-sensing capability platform, which uses artificial intelligence and machine learning technology to provide over-the-horizon aiming support for shooters on the battlefield. This value is 1The $78.4 billion agreement will be used to develop 10 Titan prototypes, including five advanced and five foundational versions, as well as to integrate new key technologies and transition to real-world production.
Notably, Palantir and defense contractor Raytheon Technologies (RTX.)US) was awarded a $36 million, 14-month contract to work on the second phase of prototype development, but the U.S. Army chose Palantir for the final phase of the effort.
"This contract demonstrates that in the era of software-defined warfare, the Army is leading the way in acquiring and deploying the emerging technologies needed to strengthen U.S. defense," Palantir executive Akash Jain said in a statement. Building on Palantir's years of experience providing AI-enabled warfighters, Palantir is now proud to offer the Army's first AI-defined vehicle. ”
Jain continued, "Soldiers should be equipped with best-in-class technology to gain a tactical advantage on the battlefield and be able to make real-time decisions when it matters most. "Palantir is honored to support this initiative, continue our partnership with the Army, and lead a team of innovative partners to build the next generation of cutting-edge capabilities. ”
It is reported that the team led by Palantir includes Andur, Northrop Grumman (NOCUS), L3Harris (LHXUS), Pacific Defense, SNC, Sierra Nevada, and Strategic Technology Consulting.
Previously, William Blair analyst Louie Dipalma had said earlier this week that Palantir was "highly likely to get the contract".