Palantir stock rallies on $823 million Army contract

Palantir Technologies Inc. PLTR, +0.17% shares rallied successful the extended league Tuesday aft the data-software company said it was selected for a U.S. Army quality programme contract. Palantir shares surged 5% aft hours, pursuing a 0.2% emergence to adjacent astatine $23.21. The institution said it won a $823 cardinal declaration to supply the Army with its Gotham platform, which is “an operating strategy for defence determination making and is specifically designed to link the dots betwixt disparate sources.” Palantir said the level volition “support Army Intelligence users worldwide with a globally federated Intelligence information cloth and analytics level spanning aggregate information classifications.”