Palantir Technologies Inc (NYSE:PLTR) has won a nearly $100 million contract to expand access to its AI-powered digital warfare program to US agencies, including the Army, Air Force, Space Force, Navy and US Marine Corps.
The contract, awarded by the DEVCOM Army Research Laboratory, is worth up to $99.8 million over five years.
Palantir's platform, called Maven Smart System, was developed to enhance battlefield awareness and decision-making by integrating US intelligence data with real-time sensor feeds, algorithms, and software capabilities.
It enables military personnel to access critical information simultaneously across various services, improving interoperability and operational readiness.
Palantir said the platform will be used to support battlespace awareness, global integration, force management, contested logistics, joint fires and targeting workflows.
“Rapid fielding and adoption of critical technology -- including the agile, effective, and responsible deployment of AI/ML — is essential for the United States to maintain its competitive advantage,” Palantir US government (USG) division president Akash Jain said in a statement.
“This contract vehicle will allow every military department to tap into the innovation that the Office of Secretary of Defense and NGA have created through Maven to accelerate their own CJADC2 programs.
“We are proud to work alongside dozens of America’s strongest technology providers supporting the broader initiative to provide America’s warfighters at every echelon with the most effective capabilities available today.”
Palantir shares traded lower following the announcement, down 0.7% at about $36.