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Palantir gets US Army contract worth up to $10 bln
TechXploreยท 2025-08-01 19:32
Core Insights - Palantir has secured a multi-billion-dollar contract with the US Army to manage software and data, consolidating multiple contracts into a single enterprise deal valued at up to $10 billion over the next decade [2][4]. Company Overview - Palantir is a data analysis and artificial intelligence company with significant connections to US national security and a diverse client base, including banks, hospitals, and government agencies [3]. - The company was founded in 2003 with backing from the CIA and has been led by CEO Alex Karp, who emphasizes the importance of the US's global standing [3][4]. Financial Performance - In the first quarter, Palantir reported $373 million in revenue from the US government, marking a 45% increase from the previous year [4]. - The company also received a $30 million contract from federal immigration authorities to develop a platform for tracking deportations and visa overstays [4].