Palantir Expands Defense Contracts as Stock Hits Record Highs Before Pullback

The company secures a $36.8 million deal with U.S. Special Operations Command and strengthens its position in AI-powered defense technologies.

Palantir Technologies announced an expanded $36.8 million contract with U.S. Special Operations Command to serve as the lead software integrator for its Mission Command System.
The contract includes deploying Palantir's Mission Manager software, enhancing operational readiness and decision-making through advanced AI capabilities.
Palantir shares hit a record $80.91 on Monday morning but later fell by over 4%, closing at $73.14, following a 320% year-to-date increase in stock value.
The company recently formed partnerships with defense firms Anduril, Booz Allen Hamilton, and L3Harris, further solidifying its role in AI-driven defense solutions.
Palantir's CEO described the company as an emerging 'juggernaut,' with six consecutive quarters of revenue growth and accelerating demand for its AI technologies.