Palantir stock jumps as secretive tech firm wins big US Army contract

Palantir stock surged as high as 8.7 percent on Wednesday after the company revealed it had scored a lucrative contract with the US Army.

The secretive Silicon Valley firm, which was co-founded by tech tycoon Peter Thiel, said late Tuesday that the Army would pay $823 million for its “Gotham” platform, a data and analytics system designed to help process large amounts of information from disparate sources. 

“This capability will field modern data integration, correlation, fusion, and analytic capabilities that prepare the Army for the next fight against emerging near peer threats,” Palantir said in a release. 

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