Palantir Expands Army Vantage Partnership with $618.9M Contract

Business Wire12-19

Leading data analytics platform and AI/ML tools to continue supporting Army Data Platform strategy and Joint Multi-Domain Operations through 2028 DENVER, December 18, 2024--(BUSINESS WIRE)--Palantir ...

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(NASDAQ: PLTR) today announced that it has extended its long-standing partnership with the U.S. Army to deliver the Army Vantage capability in support of the \"Army Data Platform\" (ADP). The total value of this agreement is $400,746,583 for a period of up to four years, with a total available ceiling of $618,871,428.\nSince 2018, the Army has leveraged Palantir’s software to transform how it uses data and artificial intelligence (AI) to more effectively perform essential missions and enable faster decision-making across the force. With an initial focus on understanding personnel readiness and combat readiness, Vantage has today become the core software system enabling ADP. ADP powers warfighters at every echelon and supports a diverse set of use cases across every data domain including readiness, logistics, recruiting, force management, talent management, financial management, risk management, and installation management.\nThis new agreement will operationalize data across the entire Department of the Army. The program anticipates continued growth and improvement by providing further flexibility to support additional Army programs with data and AI capabilities, fostering deeper integration and interoperability across the Department through leading technology investment.\n\"Palantir is proud to support the Army’s commitment to more efficient, data-driven decisions through the successful expansion of the Vantage program,\" said Akash Jain, President, Palantir USG. \"Our continuous addition of new AI capabilities enables the Army’s own ability to develop applications and incorporate the benefits of effective data analysis across nearly every high-priority mission in the Army.\"\nTo date, the Vantage program has supported over 100,000 users, achieving record high usage in 2024. Currently, more than 180 unique data sources are integrated with the Vantage ecosystem, providing seamless connectivity across the Army and the Joint community.\nLooking ahead, the program will retain its current capabilities and infrastructure while scaling to extend the platform's reach to mission owners across the entire Army enterprise. Mission owners will be able to introduce new requirements and funding to ADP as needed while emerging technologies will continue to be added to the ecosystem as part of the continuous delivery and continuous fielding model that has enabled the program’s success.\n\"The Vantage program ensures that every data point is not just collected but understood in the broader mission framework,\" said Mitchell Skiles, SVP, Federal. \"This level of comprehensive data integration is crucial for operational effectiveness and decision superiority across the Army, where they continue to set the standard as leaders in this space.\"\nBy leveraging Palantir’s software, the Army is able to create AI-enabled data solutions that integrate, analyze, and visualize information from multiple disparate data sources to better enable operational efficiencies and optimize business processes across the Army enterprise. ADP integrates both current, future, and historical structured and unstructured datasets to provide increased transparency and operational effectiveness.\nAbout Palantir Technologies Inc.\nFoundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.\nForward-Looking Statements\nThis 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.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241218946739/en/\nContacts\nMedia Contact Morgan Gressmedia@palantir.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492549311"}