There seems to be no stopping Palantir shares at the moment – one positive piece of news follows another. The stock could reach an all-time high again at the start of the week.
• Palantir shares soaring
• New all-time high in sight
• Cooperation with Anduril and other partnerships
Palantir shares are heading downwards in trading on the NASDAQ on Monday: the stock temporarily lost 0.61 percent to $75.86 after being up in early trading. Palantir had previously reached a new all-time high of $80.91 during trading. It was only on Friday that the stock temporarily jumped to $76.82, thus setting a record high. Since the beginning of the year, the tech stock has seen an impressive increase in value of almost 345 percent.
Good news provides a boost
Palantir seems to be riding a wave of positive news at the moment. The upcoming change of government in the USA is likely to benefit the software provider. In addition, Donald Trump may be considering tapping Shyam Sankar, Palantir’s chief technology officer, for a central role in shaping the Pentagon’s research and development strategy, as Politico Pro recently reported. But that’s not enough. Following recently announced partnerships with aerospace company Shield AI and technology consulting firm Booz Allen Hamilton, Palantir has now announced another collaboration with Anduril.
Partnership with Anduril
“Palantir and Anduril, two leaders at the intersection of commercial technology and national security, are launching a new consortium to ensure the U.S. government is a global leader in artificial intelligence,” the statement said. The goal of the collaboration is to “provide the edge-to-enterprise technological infrastructure that enables our government and industry partners to transform America’s world-leading AI advances into next-generation military and national security capabilities.”
The focus is in particular on solving two main problems that limit the introduction of artificial intelligence for national security purposes. On the one hand, this concerns data availability. “The most useful national security data – government data collected and created by sensors, vehicles, weapons and robots at the tactical edge – is not retained for AI training and algorithm development,” Palantir said in the announcement. A lot of defense data that is essential for AI training and inference was simply lost. “What should be America’s ultimate asymmetric advantage over our adversaries is instead our greatest missed opportunity.” This is where Anduril’s Lattice software system comes into play.
The second challenge is processing data on a large scale. There is “no secure company pipeline to convert this data into AI functions.” To address this problem, Palantir’s AI platform will be used “to provide a cloud-based data management and AI development capability that works at the hyperscale of commercial industry while meeting the unique requirements of national security.”
Both Palantir and Anduril expect a lot from the cooperation and hope to expand it to other industrial partners in the future “who can make unique contributions to this unique mission,” according to the press release.
Editorial team finanzen.net
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