Palantir and APA extend their agreement

Palantir Technologies (PLTR) and APA Corporation (APA) announced a multi-year, multi-million-dollar extension to their enterprise agreement originally signed in 2021. The agreement builds on the work deployed across APA’s global portfolio over the past three years and introduces new artificial intelligence capabilities with Palantir’s Artificial Intelligence Platform, or AIP, software. Over the past three years, Palantir has partnered with APA to deploy the software across use-cases as varied as operational planning, supply chain management, maintenance planning, production optimization, and contract management. Palantir’s AIP software has enabled APA to move quickly against opportunities across their portfolio, including newly acquired assets. Palantir has helped APA improve production equipment reliability via real-time monitoring, optimize raw material logistics, and leverage AIP across contract and invoice documents to detect anomalies against source systems.