DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. today announced that the Army has awarded a new contract for up to three years to provide additional capabilities in support of the Combatant Commands (COCOMs), Armed Services, Intelligence Community, and Special Forces as they continue to test, utilize, and scale artificial intelligence (AI) and machine learning (ML) capabilities. The contract, posted to the Department of Defense contracting website last week, is worth up to $250 million through 2026.
Since 2018, Palantir has partnered with the Army to provide leading data integration, management, and AI model training to all of the Armed Services, COCOMs, and special operators to create a common operating picture. Building on the partnership, this new phase will further the Joint All-Domain Command and Control (JADC2) efforts across these forces.
“We’re honored to expand our partnership with the Army to continue delivering the most innovative technologies and advanced data applications across the Armed Services,” said Akash Jain, President, Palantir USG. “Maturing new concepts for how we deploy solutions in different contexts is key to maintaining our nation’s competitive advantage, and we appreciate the opportunity to support this mission.”
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.