Palantir Technologies Received Military AI contract From the U.K. Government Worth £750 Million

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the 10 Best AI Stocks to Buy According to Goldman Sachs. On September 18, Palantir Technologies Inc. (NASDAQ:PLTR) received a military AI contract from the U.K. government worth £750 million.

The U.K.’s Defence Secretary John Healey signed a deal with Palantir expected to be around £750 million. Palantir’s AI technology will enable British forces commanders to efficiently identify targets on the battlefield. Palantir’s technology will be integrated into the British Armed Forces network to upgrade their AI-powered capabilities and assist in decision-making, military planning, and targeting.

“This partnership is a major vote of confidence in UK leadership in defence, data, and AI technology, and as an ideal location for companies to invest and expand. By harnessing the power of AI, we will boost the effectiveness of our Armed Forces, ensuring they have the tools they need to keep the British people safe. The work will unlock billions of pounds of investment into UK innovation, creating hundreds of skilled UK jobs and making defence the leading edge of innovation in NATO,” said Defence Secretary John Healey.

The U.K. Armed Forces commanders will be able to obtain real-time battlefield awareness from warships to tanks to cruise missiles. The technology is already operational for naval border defence through Project Kraken. Palantir’s core technology services assist in complete visibility from manpower gaps to channel shipping. This deal is a fundamental shift from human-driven military planning to AI-powered force readiness and war management.

Following the announcement, Palantir Technologies Inc. (NASDAQ:PLTR) surged over 6.53% on September 23.

Palantir Technologies Inc. (NASDAQ:PLTR) offers software to assist in counterterrorism investigations and operations. The company has created four principal software platforms, including Gotha, Foundry, Apollo, and Palantir AI Platform (AIP).

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Disclosure: None. This article is originally published at Insider Monkey.