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Palantir’s stock rises as company discloses new Army AI contract worth up to $250 million

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Emily Bary is a MarketWatch news editor based in New York.

Palantir Technologies Inc.

won a new Army contract involving artificial intelligence, the company said Tuesday. The contract supports the Combatant Commands , Armed Services, Intelligence Community and Special Forces as those groups “continue to test” AI capabilities, Palantir said in a release. The new contract was posted to the Department of Defense’s website last week and is worth up to $250 million through 2026. Palantir shares were up about 2% in Tuesday’s premarket trading.

 

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