Palantir Lands $10 Billion Army Software and Data Contract

Palantir has secured a massive $10 billion contract with the U.S. Army to unify 75 contracts into a single AI-focused enterprise framework, streamlining procurement and enhancing military readiness. CNBC reports: The agreement creates a "comprehensive framework for the Army's future software and data needs" that provides the government with purchasing flexibility and removes contract-related fees and procurement timelines, according to a release. Palantir co-founder and CEO Alex Karp has been a vocal proponent of protecting U.S. interests and joining forces on AI to fend off adversaries.

Earlier this year, Palantir delivered its first two AI-powered systems in its $178 million contract with the U.S. Army. In May, the Department of Defense boosted its Maven Smart Systems contract to beef up AI capabilities by $795 million.