Palantir Technologies (NYSE:PLTR) stock is in the news Wednesday after the big data company announced a new deal with intelligent power management company Eaton (NYSE:ETN).
Palantir is expanding its partnership with Eaton that will bring its Artificial Intelligence Platform (AIP) to the latter’s operations. This comes after a previous deal resulted in resolutions to Eaton’s supply-chain issues.
With this new collaboration, Palantir will support AI innovation process. This will create physical results for its ideas. This should help speed up value creation for the businesses’ global operations.
Danny Lutkus, Commercial Lead for industrials at Palantir, said this about the deal:
“The scope and reach of Eaton, with operations in some 160 countries, along with its position as a leader in the energy transition, make it an ideal partner for Palantir […] Through the use of our software, we’re excited to increase the adoption of AI in Eaton’s operations and accelerate Eaton’s impact in powering the clean energy and AI revolution.”
PLTR Stock Movement Today
Despite today’s news of a deal with Eaton, PLTR stock isn’t seeing much movement. This only has 11 million shares traded as of this writing. That’s well below its daily average of about 49.6 million shares.
PLTR stock is down 1.4% as of Wednesday morning but up 25.2% year-to-date (YTD).
There are plenty of other stock market stories traders are going to want to read about below!
We have all of the hottest stock market news investors need to know about on Wednesday! Among that is what is going on with shares of Faraday Future Intelligent Electric (NASDAQ:FFIE), Innovative Eyewear (NASDAQ:LUCY) and Siemens Energy (OTCMKTS:SMEGF) stock today. All of this news is available at the following links!
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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.
