DENVER, June 5, 2023
/PRNewswire/ -- Palantir Technologies Inc. (NYSE: PLTR) today
announced it was awarded a contract from the US Special Operations
Command (USSOCOM) to deliver technology solutions to support
enterprise capabilities. The multi-year contract is worth up to
$463 million.
Palantir provides best in class software capabilities for America's
warfighters, including the men and women of USSOCOM, and this
contract award will help ensure their continued competitive
advantage in this next phase of competition. Palantir helps USSOCOM
to parse the petabytes of data emanating from today's environments
and enables decision-making.
Palantir is driving rapid innovations across its Defense Portfolio.
These include advancements in Large Language Models (LLMs) to
reduce cognitive load on warfighters and commanders; as well as
advancements in edge processing and edge AI to maximize the
warfighter's ability to integrate and utilize real-time
information.
"Our partnership is an example of converting software innovation
into real battlefield advantage. USSOCOM is at the forefront of
adopting leading edge technology," said Akash Jain, President, Palantir USG. "Just as
they are the pointy end of the spear on the battlefield, they often
find themselves playing that same role in innovation. We look
forward to helping the command maintain its decision advantage into
the next era of competition, and are deeply appreciative of the
opportunity to continue serving this critical community."
This contract is the result of the trust built on more than a
decade of work between our communities, and is a reaffirmation of
Palantir's commitment to always provide the most capable software
for the US warfighters who need it most.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional
information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These statements may relate to, but are not limited to, Palantir's
expectations regarding the amount and the terms of the contract and
the expected benefits of our software platforms. Forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Forward-looking
statements are based on information available at the time those
statements are made and were based on current expectations as well
as the beliefs and assumptions of management as of that time with
respect to future events. These statements are subject to risks and
uncertainties, many of which involve factors or circumstances that
are beyond our control. These risks and uncertainties include our
ability to meet the unique needs of our customer; the failure of
our platforms to satisfy our customer or perform as desired; the
frequency or severity of any software and implementation errors;
our platforms' reliability; and our customer's ability to modify or
terminate the contract. Additional information regarding these and
other risks and uncertainties is included in the filings we make
with the Securities and Exchange Commission from time to time.
Except as required by law, we do not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments, or otherwise.
Media Contact
Lisa Gordon
media@palantir.com
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SOURCE PALANTIR TECHNOLOGIES INC.