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Palantir Stock Climbs Premarket After Expanding US Space Force Partnership

Updated: 24 May 2021

Software firm Palantir's (NYSE: PLTR) share price is up premarket after the company confirmed it will support the United States Space Force and the United States Air Force.

Palantir will provide its software to the Department of the Air Force (DAF), Space and Missile Systems Center’s Cross-Mission Ground & Communications Enterprise (SMC/ECX) NORAD-NORTHCOM.

The deal is worth $32.5 million.

Palantir will deploy and support Palantir as a Data-as-a-Service (DaaS) platform to support SMC/Space ECX's Command and Control programme, including operational users at both the National Space Defense Center and the Combined Space Operations Center.

The Air Force's Project Brown Heron will use Palantir to provide the senior leadership of the United States Air Force with an operational readiness analytics platform by integrating disparate data sources from across the Service.

Palantir will also support NORAD-NORTHCOM’s Joint All Domain Command and Control (JADC2) transformation.

“Our Nation’s Service Members deserve the best technology possible to win. It’s an honor to continue our work with the SMC as they deliver mission critical capability to the Service” said Doug Philippone, Palantir’s Global Defense Lead.

Palantir's stock price is trading 1.45% above Friday's closing price at $21.05.

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