Palantir Technologies Awarded Army Deal Worth Up to $10 Billion

Palantir Technologies Inc. shares were little changed after rising as much as 0.5% in extended trading Thursday, as the US Army announced a new $10 billion agreement with the defense tech company for its future software and data needs.

• Agreement will consolidate 75 contracts, including 15 prime contracts and 60 related contracts, into one singular contract
• The 10-year deal is worth up to $10 billion, though the Army emphasizes it’s not committed to spending that much money
• “This streamlined approach reduces procurement timelines, ensuring Soldiers have rapid access to cutting-edge data integration, analytics and AI tools,” the release states
• PLTR ...