Palantir Technologies Inc. (NYSE: PLTR) shares were in the minus column Friday, despite the announcement of a contract awarded by the DEVCOM Army Research Laboratory expanding Maven Smart System access across the military services to include the Army, Air Force, Space Force, Navy, and US Marine Corps. This firm-fixed price contract is worth up to $99,804,561 over five years and simplifies and expedites the ability for services to access the existing capabilities within Maven Smart System. Maven Smart System is part of the National Geospatial-Intelligence Agency’s Maven AI infrastructure.
“To stay ahead of our adversaries, we must deliver software advantage at speed and at every level of the Department of Defense,” said Shannon Clark, Head of Defense Growth, Palantir. “NGA has been a leader in rapidly adopting the strongest AI capabilities to enable warfighters around the globe, and we are excited to support the program as it scales to meet critical infrastructure requirements across all of the services.”
This expanded user base is a result of demand for Maven Smart System to improve interoperability between strategic and tactical operations within the military departments and increase readiness by building upon existing Department of Defense investments for joint interoperability and fight-tonight capabilities. Palantir’s platform will support AI-enabled battlespace awareness, global integration, force management, contested logistics, joint fires and targeting workflows.
PLTR shares gave up 80 cents, or 2.2%, to $36.05.
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