Palantir stock is in the news Thursday after the big data and artificial intelligence (AI) analytics company announced a new partnership with the U.S. government’s Advanced Research Projects Agency for Health (ARPA-H).
The partnership has the two companies teaming up on AI and machine learning (ML). This will see Palantir assist ARPA-H with its mission goal of accelerating better health outcomes. That includes high-potential, high-impact biomedical and health research that is not possible through traditional research or commercial activity.
Palantir will provide ARPA-H with its AIP and Foundry software to help it with key workflows. That includes data infrastructure for its core operations. It’s a two-year contract for Palantir that is worth $19 million.
What This Means for PLTR Stock
Palantir’s head of health and senior vice president of federal said the following about the partnership:
“ARPA-H is an incredible investment in the next generation of life-changing healthcare outcomes. We are honored to provide our software to support their mission and deliver the latest commercial technology to transform their operations.”
PLTR stock is up 2.29% as of Thursday morning. This comes with 9 million shares traded, as compared to a daily average of about 42 million shares.
