Palantir pops as its Maven AI targeting system made “official program” for DOD
Palantir jumped Monday following reports that the US military is making official its long-term commitment to buying and using Palantir’s AI-powered data analysis and targeting program.
Reuters’ David Jeans reported over the weekend:
“Palantir’s Maven artificial intelligence system will become an official program of record, Deputy Secretary of Defense Steve Feinberg said in a letter to Pentagon leaders, a move that locks in long-term use of Palantir’s weapons-targeting technology across the U.S. military.
In the March 9 letter to senior Pentagon leaders and U.S. military commanders, Feinberg said embedding Palantir’s Maven Smart System would provide warfighters ‘with the latest tools necessary to detect, deter, and dominate our adversaries in all domains.’”
Key benefits of being named an “official program of record” include eligibility for permanent funding from the Department of Defense. The designation also implies a long-term commitment to a technology, which significantly decreases competitive threats from alternate military contractors and vendors.
In other words, being a “program of record” implies significant long-term cash flow in the future from the US Treasury to Palantir, and thus the market reaction.
“Palantir’s Maven artificial intelligence system will become an official program of record, Deputy Secretary of Defense Steve Feinberg said in a letter to Pentagon leaders, a move that locks in long-term use of Palantir’s weapons-targeting technology across the U.S. military.
In the March 9 letter to senior Pentagon leaders and U.S. military commanders, Feinberg said embedding Palantir’s Maven Smart System would provide warfighters ‘with the latest tools necessary to detect, deter, and dominate our adversaries in all domains.’”
Key benefits of being named an “official program of record” include eligibility for permanent funding from the Department of Defense. The designation also implies a long-term commitment to a technology, which significantly decreases competitive threats from alternate military contractors and vendors.
In other words, being a “program of record” implies significant long-term cash flow in the future from the US Treasury to Palantir, and thus the market reaction.
