Palantir shares surge on FedRAMP High Authorization

On Tuesday, Palantir Technologies Inc . (NASDAQ:PLTR ) experienced a 5% increase in its stock value following the announcement that it has received FedRAMP High Authorization for its Palantir Federal Cloud Service (PFCS) and Palantir Federal Cloud Service - Supporting Services (PFCS-SS). This significant authorization allows the company to offer its entire range of products and programs to the U.S. Government at the FedRAMP High baseline, which is designed for the most sensitive unclassified workloads.

FedRAMP, or the Federal Risk and Authorization Management Program, is a critical standard for cloud services used by the federal government, ensuring a consistent approach to security and risk assessment. Palantir's latest achievement builds upon its existing authorizations, which include FedRAMP Moderate and Department of Defense Impact Level 5 and 6 (DoD IL5 and IL6), further solidifying its position as a trusted provider of secure cloud services.

Palantir's Chief Technology Officer and President of Palantir USG, Akash Jain, expressed pride in reaching the FedRAMP High milestone for the company's full suite of products, including the AIP, Apollo, Foundry, Gotham, FedStart, and Mission Manager. Jain highlighted the potential for accelerated collaboration with technology partners to support U.S. Government missions, emphasizing Palantir's commitment to maintaining the highest security standards.

The PFCS is a cloud-hosted offering tailored for delivering Palantir's software to federal government customers as a cloud service, streamlining the acquisition process and enabling rapid deployment against complex challenges. Similarly, the PFCS-SS provides a secure cloud service environment for commercial software at the FedRAMP High baseline, leveraging PFCS' infrastructure and management services.

Palantir's shares have seen a remarkable growth of over 300% year to date, with a 65% increase in the past month alone, reflecting the company's strong performance and investor confidence.

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Source: Investing.com