Data analytics firm Palantir (PLTR) and Anduril Industries, an American defense technology company, have joined forces to accelerate AI adoption in the U.S. military. By combining their expertise, the companies aim to create a robust AI infrastructure that can leverage defense data to enhance national security.
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According to the terms of the agreement, Anduril’s Lattice software will collect sensitive defense data from sensors, vehicles, robots, and weapons. This data will then be integrated into Palantir’s secure platform for use in AI training and development. Furthermore, Anduril’s systems will facilitate the storage and distribution of government defense data.
PLTR Gains Traction in the Defense Industry
Palantir stock has gained over 120% in the past three months. The upside can be attributed to several major contracts and partnerships that the company has signed recently.
Last week, PLTR received FedRAMP High Authorization from the U.S. government, enabling it to manage the most sensitive government data on its cloud platform. FedRAMP is a federal program focused on securing cloud services.
Also, Palantir secured a $480 million contract for its Maven Smart System, which provides advanced data integration and AI tools for U.S. military operations. These advancements in the government market have bolstered investor confidence in the stock.
Is Palantir a Buy?
Turning to Wall Street, PLTR has a Hold consensus rating based on three Buys, seven Holds, and six Sells assigned in the last three months. At $38.73, the average Palantir price target implies a 49.27% downside potential.
