Palantir Stock Ralies 3% After It Gets $795M U.S. Army Contract Modification
Tiger Newspress
05-22
Palantir has notched a modification valued at $795 million to an existing contract with the U.S. Army.
Palantir shares rallied 3% in morning trading.
The U.S. Defense Department said Wednesday the contract involves the company's Maven Smart System software licenses at an Army Contracting Command in Aberdeen Proving Ground, Md.
The contract continues to target a completion date of May 28, 2029, the department said.
The original agreement, announced in May 2024, awarded a $480 million contract.
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