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Palantir (PLTR) Stock Gains On DataRobot Partnership

Sam Boughedda trader
Updated 24 Jun 2021

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Shares of Palantir (NYSE: PLTR) are gaining on Thursday after announcing a partnership with DataRobot.

The partnership is designed to “create unique, agile, and real-time solutions to help solve the most pressing demand forecasting problems,” the companies said in a statement.

Palantir and DataRobot will work together to support retailers to create a custom framework that will allow them to take on a more nimble strategy to demand forecast.

The framework will combine the Palantir Foundry and DataRobot model development capabilities to give customers the ability to create and test data-driven, easily updated forecasting models in minutes from a single platform.

“This partnership brings together the best of both companies' offerings, and we are excited to see what our customers are able to do with this new solution,” said Shyam Sankar, COO of Palantir Technologies.

Dan Wright, CEO of DataRobot, said: “By combining the power of the DataRobot Augmented Intelligence platform with Palantir’s capabilities, we’re helping our joint customers create longer-lasting, more flexible AI solutions that will generate tremendous business value.”

Palantir's share price is up 0.84% at $26.49 premarket on Thursday.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.