Palantir pops after landing deal to supply NATO with AI-powered battle system
Seeking Alpha News (Mon, 14-Apr 8:39 AM)
Palantir (NASDAQ:PLTR) and the NATO Communications and Information Agency finalized the acquisition to deploy Palantir's Maven Smart System into NATO's Allied Command Operations, which will utilize artificial intelligence applications to bolster battle capabilities.
Palantir shares jumped 6% during pre-market trading on Monday.
"NCIA is pleased to team up with Supreme Headquarters Allied Powers Europe (SHAPE) and Palantir to deliver MSS NATO to the Warfighter, providing customized state-of-the-art AI capabilities to the Alliance, and empowering our forces with the tools required on the modern battlefield to operate effectively and decisively," said Ludwig Decamps, NCIA General Manager, in a statement.
NATO's Allied Command Operations are expected to deploy the new system within the next 30 days. NATO noted the procurement of Palantir's Maven Smart System only took six months from outlining the requirement to adoption of the system.
"ACO is at the forefront of adopting technologies that make NATO more agile, adaptable, and responsive to emerging threats," said General Markus Laubenthal, SHAPE Chief of Staff. "Innovation is core to our Warfighting ability. Maven Smart System NATO enables the Alliance to leverage complex data, accelerate decision-making, and by doing so, adds a true operational value."
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