Palantir Technologies (PLTR, Financial) is gaining ground in the defense technology space after securing a deal with NATO to supply its Maven Smart System, an artificial intelligence-powered platform designed for military use.
According to Wedbush, the agreement puts Palantir in a favorable position for future government contracts as demand for AI capabilities in defense continues to grow. While financial terms of the deal were not disclosed, the system is expected to be deployed within 30 days.
By midday Monday, Palantir shares had risen about 6% following the announcement.
Wedbush analysts, led by Daniel Ives, maintained their Outperform rating and $120 price target, calling the deal a key milestone for the Denver-based firm. The analysts said Palantir is well-positioned to benefit as U.S. and European governments ramp up AI-related investments.
The firm noted Palantir's existing presence across all U.S. military branches — including the Army, Air Force, Navy, Space Force, and Marine Corps — as a strength. Last September, the company secured a $100 million, five-year contract with the Army's DEVCOM Research Laboratory.
Wedbush added that as AI becomes a strategic priority for federal agencies, Palantir is set to play a central role in future government technology initiatives.
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