Market Chatter: Palantir Selected to Compete on New FAA AI Tool

MT Newswires Live04-18 03:45

Palantir Technologies (PLTR), Thales, and Air Space Intelligence were selected by the US Federal Aviation Administration to compete on a new artificial intelligence tool for air traffic management, Bloomberg reported Friday, citing a person familiar with the matter.

The FAA has received $12.5 billion from Congress for the project but it needs about $20 billion more to complete the overhaul, according to the report.

Palantir did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 147.00, Change: +4.24, Percent Change: +2.97

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