Palantir's Maven Is Now an Official Pentagon Program of Record. Here's What Guaranteed Budget Dollars Are Worth.
The designation will lead to additional long-term contracts as Maven gets used by all branches of the military.
Overview
Palantir Technologies (NASDAQ: PLTR) is a key military contractor -- its relationship with the U.S. armed forces dates back for years, as Palantir has long been linked to providing the intelligence that helped U.S. forces kill 9/11 mastermind Osama bin Laden in 2011.
And fortunately for the company's shareholders, that relationship is just getting stronger. Palantir's Maven Smart System, an artificial intelligence-powered military platform, is now an official program of record for the Pentagon. The designation will be a key factor for Palantir as it seeks to get $2.3 billion over the next five years to expand Maven, which identifies and analyzes battlefield data and supports AI-enabled targeting.
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Originally published at www.fool.com.