Palantir Technologies Inc PLTR delivered mobile battle stations to the U.S. Army under its $178 million military deal.
The Tactical Intelligence Targeting Access Node (TITAN) system marks the debut of a software company as a prime defense contractor.
The company developed the product with subcontractors, including Anduril Industries Inc and Northrop Grumman Corp NOC, Bloomberg reports.
Palantir also tapped L3Harris Technologies Inc LHX and other firms as subcontractors.
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The system’s core is Palantir’s artificial intelligence and analysis tech, which gathers data from third-party sensors and systems, including satellites.
Palantir executives told Bloomberg during a Thursday gathering at an Anduril manufacturing facility in California that they delivered the systems on time and budget.
The vehicles will undergo additional testing for performance and reliability at Army facilities outside of California.
Each Titan system includes a lightweight industrial truck and a trailer.
Palantir’s government contracts surged, with U.S. government revenue growing 45% to $343 million in the fourth quarter. The company recently announced AI deployments at Societe Generale and formed a joint venture with TWG Global for AI solutions.
Palantir stock surged over 204% in the last 12 months.
Wedbush analyst Dan Ives said buying Palantir stock could be comparable to purchasing Tesla Inc TSLA stock in 2015.
Price Action: PLTR stock is down 0.65% at $79.90 premarket at last check Friday.
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