Enhanced Investments - Financial Portal

Palantir Selected by Chief Digital and Artificial Intelligence Office (CDAO) to Participate in Scaling Data Analytics and AI Capabilities Across the Department of Defense in Support of CJADC2 Strategy

Published: 2024-05-30 20:00:00 ET

DENVER--(BUSINESS WIRE)-- Palantir Technologies Inc. (NYSE: PLTR) today announced that the Department of Defense Chief Digital and Artificial Intelligence Office (CDAO) awarded its subsidiary, Palantir USG, Inc., a production contract to make licenses of their AI-enabled operating system available across the Department of Defense. Starting with an initial order of $153 million to support certain Combatant Commands and the Joint Staff, additional awards can be made up to $480 million over a 5-year period.

Additionally, CDAO has awarded Palantir a prototype Other Transaction (OT) for $33 million to rapidly and securely onboard third-party vendor and government capabilities into the government-owned, Palantir-operated data environment to meet priority Combatant Command digital needs.

“These awards represent a vital step in warfighter adoption of AI, moving cutting-edge technology from experiment to enterprise production,” said Shannon Clark, Head of Defense Growth, Palantir. “We are proud to support the CDAO, enabling commanders to make better, faster decisions across all domains at unprecedented scale.”

Palantir’s commercial solutions will be part of the larger CJADC2 ecosystem integrating with other vendors and programs to support battlespace awareness, global integration, contested logistics, joint fires, and targeting workflows. Users will benefit from the current data integrations created as a result of Palantir’s work on fielding AI/ML tools for the warfighter over the last several years.

“In this era of geopolitical competition, the CDAO has become an essential leader in bringing operational CJADC2 capabilities to life through the agile, effective, and responsible deployment of AI/ML,” said Akash Jain, President of Palantir USG. “Palantir is honored to continue supporting the CDAO’s mission to develop, field, and scale AI-enabled solutions that advance U.S. defense, and we look forward to working alongside America’s warfighters to ensure these efforts are effective where they matter most – in the field and in the hands of decision-makers at all echelons.”

Additionally, government operators and third-party vendors will be able to build data integrations, pipelines, and applications within the platform or on other platforms through open APIs and Ontology Software Development Kits (OSDKs). Palantir’s open infrastructure provides organic use for flexible and rapid response at speed while maintaining the secure collaboration needed to ensure access controls and data protection.

This work follows Palantir’s long-standing partnership with CDAO to support the Global Information Dominance Experiment (GIDE) events, and the development of proven, real-world applications for advanced technologies.

About Palantir Technologies Inc.

Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240530260030/en/

Media Contact Morgan Gressmedia@palantir.com

Source: Palantir Technologies Inc.

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.