Palantir shares jump on expanded special ops command partnership

Investing.com -- Shares of Palantir Technologies Inc . (NASDAQ:PLTR ) jumped over 6% in pre-market trading on Monday after the company said it had expanded its partnership with the U.S. Special Operations Command (USSOCOM).

The new contract, valued at $36.8 million, positions Palantir as the primary software integrator for USSOCOM’s Mission Command System. 

The one-year agreement builds on more than a decade of collaboration between Palantir and USSOCOM, further cementing the company’s reputation as a trusted provider of cutting-edge software solutions. 

The contract will facilitate the deployment of its multi-vendor development ecosystem and the Ontology Software (ETR:SOWGn ) Development Kit, streamlining software deployment in challenging operational environments, Palantir said in a statement.

“Palantir’s Mission Manager is positioned to innovate the Defense industry by providing software to enable and operationalize commercial capabilities for U.S. Government missions. USSOCOM understands that commercial software can be the differentiator in the battlespace and we are steadfast in our commitment to supporting USSOCOM forces around the world,” said Akash Jain, President at Palantir USG.

A key component of this expanded partnership is the deployment of Palantir’s Mission Manager software to SOF units for the first time. 

Mission Manager operates on a secure, Kubernetes-based infrastructure, enabling seamless integration of third-party applications and emerging technologies. 

This functionality is designed to enhance operational readiness and decision-making, whether forces are operating in connected, disconnected, cloud-based, or edge environments.

The expanded collaboration will also support pilot projects aimed at integrating Palantir’s artificial intelligence capabilities into USSOCOM operations. 

These efforts flag the increasing reliance on AI to enhance mission efficiency and effectiveness, particularly in complex and rapidly evolving scenarios.

Source: Investing.com