Palantir Technologies Inc (NYSE:PLTR) on Thursday announced that it is partnering with Lumen Technologies, with the goal of helping businesses deploy artificial intelligence (AI) more quickly and securely.
Lumen will spend more than $200 million on Palantir software over a period of several years, Bloomberg reported, citing people familiar with the matter.
The companies said the partnership will integrate Palantir's foundry and AI platform with Lumen's connectivity fabric, a digital networking solution, in hopes of bridging the gap between advanced AI capabilities and high-performance network infrastructure required for business AI transformation.
In September, Lumen reported that it was adopting Palantir Foundry and AIP to streamline its own operations, speed up modernization, and transform how it delivers digital services.
Palantir shares rose 2.5% on Thursday, while shares of Lumen gained 4.5%.