Palantir Technologies Inc. (NYSE: PLTR) has established a partnership with a major automobile manufacturer. This revelation sparked a 5.03 percent increase in PLTR prices to $8.36 during the trading on May 26.
Palantir has partnered with Stellantis, a worldwide conglomerate that encompasses Fiat Chrysler and PSA Peugeot Citroen. Chrysler, Dodge, Fiat, Ram, and Alfa Romeo are among the twelve well-known automobile brands that make up the firm.
In reality, this is the world’s largest automotive association, while other conglomerates generally only contain a few firms. Palantir’s collaboration with Stellantis will be a huge step forward in terms of the commercial scale.
PLTR will offer Stellantis the Palantir Foundry operating system, which is meant to aggregate huge amounts of data from many sources into a unified system, as part of the deal. Stellantis, for example, will be able to better manage the supply of replacement parts and analyze their availability in different areas of the world as a result of this.
Palantir Technologies Inc. (PLTR) already has collaborations with Stellantis firms, but this will be expanded to a global license for the entire company. Even while PLTR does not divulge the financial terms of the acquisition, it is clearly a huge win for the firm.
Palantir has an advantage in that it has a universal set of technologies on which two platforms for data analysis and data security are created. Palantir Technologies Inc. (PLTR) may now provide its services to both government and private entities.
The firm can receive consistent income from multi-year contracts in the first market, and it can experience a significant increase in sales in the commercial sector despite continuing digital change.
PLTR is down -63.17% over the last year and up 0.60 percent over the last week in terms of performance. The stock price index is down -20.83% in one month and -27.11 percent in three months. In the last six months, it has returned -60.40%.