Palantir Says Department Of Defense Chief Digital And Artificial Intelligence Office Awarded Its Subsidiary, Palantir USG, A Production Contract
Portfolio Pulse from Benzinga Newsdesk
Palantir's subsidiary, Palantir USG, has been awarded a production contract by the Department of Defense's Chief Digital and Artificial Intelligence Office. The initial order is valued at $153 million, with potential additional awards up to $480 million over five years.
May 30, 2024 | 8:01 pm
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Palantir's subsidiary, Palantir USG, has secured a significant contract from the Department of Defense, starting with an initial order of $153 million and potential additional awards up to $480 million over five years.
The contract with the Department of Defense is a substantial win for Palantir, providing a significant revenue stream and enhancing its credibility in the defense sector. The initial $153 million order and the potential for up to $480 million over five years are likely to positively impact Palantir's stock price in the short term.
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