Palantir (NYSE:PLTR) 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 2.2% as of Thursday morning. This comes with 9 million shares traded, as compared to a daily average of about 42 million shares.
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On the date of publication, William White did not have (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.
