Palantir Stock Rises After This $1.7 Billion Commitment – Find Out More

Palantir Technologies Inc. (PLTR) announced a major investment push into the U.K. on Thursday, committing up to £1.5 billion ($1.77 billion) to expand its operations and deepen its collaboration with the U.K. government on advanced defence technologies. 

The move includes plans to create up to 350 high-skilled jobs and to make London Palantir’s central base for European defence initiatives. The partnership will see Palantir working with the U.K. military to develop artificial intelligence-driven capabilities designed to improve decision-making speed and battlefield awareness.

Following the announcement, Palantir Technologies' stock rose by over 4% on Thursday morning. On Stocktwits, retail sentiment around the stock jumped to ‘bullish’ from ‘neutral’ territory the previous day amid ‘low’ message volume levels. 

The joint efforts will build on AI systems already used in real-world combat situations, including those tested during the war in Ukraine. These systems help fuse data from various sources, including satellite feeds, open-source intelligence, and classified systems, to deliver rapid, coordinated targeting information. This forms part of the U.K.’s evolving "Digital Targeting Web," which aims to enhance battlefield effectiveness using networked digital infrastructure.

“It will reinforce the U.K.’s position as a major military force protecting the West from our adversaries. And it will underline the U.K.’s status as our largest presence outside of the U.S.,” said Palantir CEO Alex Karp. 

In addition to building AI capabilities for the Ministry of Defence, Palantir will also support British start-ups and small businesses working in the defence tech sector. 

Palantir stock has gained over 130% year-to-date and over 379% in the last 12 months. 

Also See: Why Is Rigetti Computing Stock Rising Today?

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