Big things are happening for Palantir Technologies (NYSE:PLTR) at the moment. And after a rough past month, PLTR stock could use a bit of a boost from good news.
So, what does the firm have cooking? And what do PLTR stock investors need to know? Let’s take a closer look.
- Palantir is hosting the first of its series of “Double Click” demo events on Wednesday morning.
- This will showcase the company’s Foundry software. According to the release, this software is used by customers across 40 industries worldwide.
- That said, the event will focus on the software’s applications in the life sciences and industrials sectors.
- Some of Palantir’s customers in these areas include Merck (NYSE:MRK), 3M (NYSE:MMM) and government organizations.
- Additionally, news of Palantir’s partnership with Clarifai has been released.
- Clarifai is a technology firm focused on the applications of artificial intelligence and machine learning to a number of different industries.
- According to the release, this deal allows Clarifai “to deliver its Artificial Intelligence and Machine Learning algorithms on Palantir’s data management platform.”
- That said, the release also stated that this is part of the first phase for the U.S. Army’s Ground Station modernization for its Tactical Intelligence Targeting Access Node (TITAN) program.
- Dr. Matt Zeiler, CEO of Clarifai, said this partnership will help the Army in a number of different spaces.
- “By providing our Computer Vision AI solution to Palantir, Clarifai is helping the Army leverage spatial, high altitude, aerial, and terrestrial data sources for use in intelligence and military operations,” he said.
- “The partnership will offer a ‘turnkey’ solution that integrates data from various sources, including commercial and classified sources from space to ground sensors,” Zeiler added.
PLTR stock was down 3% as of Wednesday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.