Palantir Says Awarded Contract By DEVCOM Army Research Laboratory Expanding Maven Smart System Access Across Military Services; Firm-fixed Price Contract Is Worth Up To $99.80M
Portfolio Pulse from Benzinga Newsdesk
Palantir has been awarded a firm-fixed price contract by the DEVCOM Army Research Laboratory, valued at up to $99.80 million over five years. This contract will expand access to the Maven Smart System across military services.
September 20, 2024 | 11:01 am
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Palantir has secured a significant contract with the DEVCOM Army Research Laboratory, valued at up to $99.80 million over five years. This contract will enhance the accessibility of the Maven Smart System across military services, potentially boosting Palantir's revenue and market position in defense technology.
The contract is a substantial addition to Palantir's portfolio, likely to positively impact its revenue stream and strengthen its position in the defense sector. The fixed price nature of the contract provides financial predictability, and the association with the National Geospatial-Intelligence Agency's Maven AI infrastructure enhances Palantir's credibility and technological reach.
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