Shares of Palantir Technologies Inc. PLTR, +7.06% powered up 7.5% toward a 17-month high in morning trading Monday, after the software company said it was awarded a multiyear contract worth up to $463 million from the U.S. Special Operations Command (USSOCOM). Palantir, which has seen its stock get a recent boost from the artificial-intelligence craze, has made advancements in large language models (LLMs) and edge AI to reduce cognitive load on warfighters and commanders.
Palantir's stock surges toward 17-month high after being awarded U.S. Special Ops contract valued at up to $463 million