Palantir Bags $85.1M Contract to Support Army Materiel Command

Seeking Alpha2022-10-06

The U.S. Army Materiel Command (AMC) has tapped Palantir Technologies (NYSE:PLTR) to support its prognostic and predictive maintenance and supply chain optimization efforts.

The award totals $85.1M over five years.

Michael Vi/iStock Editorial via Getty Images

Under the contract, thesoftware firm will support Army Materiel Command's predictive maintenance and supply chain optimization efforts. AMC will leverage Palantir's (PLTR) software to support logistics in contested environments, improve equipment reliability, and advance supply chain optimization.

The software will be used to deploy an AI/ML capability that integrates high-volume maintenance, sensor and supply data. Using a modular open systems architecture, this capability will provide a highly secured environment for AMC – and its mission partners – to develop, test, and deploy predictive maintenance models.

PLTR shares were down around 1% premarket.

Earlier this month, Palantir (PLTR) won a $59.1M Army contract.

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