Market Chatter: Palantir Challenges London Mayor's Move to Block Contract Over Perceived Values

MT Newswires Live07-09

Palantir Technologies (PLTR) is challenging London mayor Sadiq Khan's decision to block a contract with the Metropolitan Police at London's High Court, arguing that the mayor's office wrongly took into account the company's "values and ethics," Reuters reported Thursday.

Palantir had signed a two-year, 50 million British pounds ($67.1 million) contract with the London police to use artificial intelligence to automate certain tasks, the report said, adding that the mayor's office refused to approve the deal because the force did not have an open competition for the contract.

A spokesperson for Khan's office is also said to have cited concerns that Palantir did not align with "London's values," which the company has called out as "putting politics above public safety," Reuters said.

Palantir and the London mayor's office 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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