Palantir (NYSE:PLTR) stock is in the news Thursday after announcing a $50 million expansion agreement with SOMPO Holdings (OTCMKTS:SMPNY).
The expansion agreement also adds another five years of collaboration between the two companies. With this agreement, Palantir will continue to support SOMPO Holdings’ Real Data Platform (RDP) and more with ongoing development.
SOMPO makes use of Palantir Foundry to manage its RDP. The company intends to make use of this with the rollout of workflows to more salespeople at SOMPO Japan. It’s worth noting that SOMPO has been using Foundry since 2019.
Shyam Sankar, CTO of Palantir, said the following about the agreement:
“The expansion of our work across more of SOMPO Care, into SOMPO Japan and elsewhere, is emblematic of our joint ambition with SOMPO to support Japan as a global leader.”
More PLTR Stock News
Investors are celebrating news of the $50 million deal for Palantir today. It’s not the only positive news for the company, either. There’s also the news that Palantir’s software is being used by Ukraine.
CEO Alex Karp said as much yesterday. He pointed out that most of the targeting in Ukraine is done by the company, including marking tanks and artillery being used by Russia to invade the country.
PLTR stock is up 2.8% as of Thursday morning.
There’s more stock market news traders will want to know about below!
We’ve got all of the hottest stock market coverage investors need to know about on Thursday! A few examples include what’s happening with shares of Meta Platforms (NASDAQ:META), Genius Group (NYSEMKT:GNS) and OncoSec Medical (NASDAQ:ONCS) stock today. You can catch up on all of that news at the following links!
More Thursday Stock Market News
- META Stock Is Surging After Earnings. Analysts Say There’s More to Come.
- Genius Group (GNS) Stock Skyrockets 39% on NFT Plans
- Why Is OncoSec Medical (ONCS) Stock Down 25% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
