US Army Research Lab Expands

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Palantir Technologies Inc. (NYSE: PLTR) today announced that it will expand its collaboration with the U.S. Army Research Laboratory to implement data and artificial intelligence (AI)/machine learning capabilities ( ML) for combat command users (COCOM). The contract totals $99.9 million over two years.

Palantir first partnered with the Army Research Lab to provide those on the frontlines with cutting-edge operational data and AI capabilities in 2018. Palantir’s platform supported the integration, management and deployment of relevant data and AI model training for all. armed forces, COCOMs and special operators. This extension extends Palantir’s operational RDT&E work to more users worldwide.

“Maintaining a cutting edge through technology is the foundation of our mission and our partnership with the Army Research Laboratory,” said Akash Jain, president of Palantir USG. “Our nation’s armed forces need best-in-class software to fulfill their missions today while rapidly iterating on the capabilities they will need for tomorrow’s combat. We are honored to support this critical work by partnering to deliver the most advanced operational AI capabilities available with dozens of commercial and public sector partners.

By working with the U.S. Army Research Lab, integrating with vendor partners, and iterating with frontline users, Palantir’s software platforms will continue to rapidly implement advanced AI capabilities. against some of the DOD’s most pressing problem sets. “We look forward to bringing our latest ML, Edge and Space technologies into service alongside our U.S. military partners,” said Shannon Clark, senior vice president of innovation, Federal. “These technologies will enable operators in the field to leverage AI insights to make decisions across many merged domains. From outer space to the bottom of the sea, and everything in between.

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Forward-looking statements

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 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 such statements are made and were based on current expectations and management’s beliefs and assumptions at the time regarding future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customers; the inability of our platforms to satisfy our customer or perform as desired; the frequency or severity of software and implementation errors; the reliability of our platforms; and the ability of our customers to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in our filings from time to time with the Securities and Exchange Commission. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220728005319/en/

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