Market Chatter: Palantir Technologies Challenges Pentagon Agency Over Analytics Contract

MT Newswires Live05-21

Palantir Technologies (PLTR) is challenging Pentagon's Defense Intelligence Agency over its ability to bid for a contract to modernize the agency's data analytics system, Axios reported Thursday, citing a filing.

Palantir argued that the DIA is not using commercial software options and is wasting taxpayer money by continuing to develop the system internally, according to the report.

The program, called the Machine-assisted Analytic Rapid-repository System, has been in development for years as a replacement for an older intelligence platform, but has produced uneven results compared with available commercial tools, the report said, citing the company.

A senior Trump administration national security official told Axios the White House wants broader competition in federal tech contracts.

Palantir Technologies did not immediately respond to MT Newswires' request for comment.

(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.)

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