L3Harris Technologies stock also jumped over 4% on Friday hitting a two-year high of $258.89.
Shares of Palantir Technologies Inc. ($PLTR) surged nearly 3% to hit an all-time high of $45.07 on Friday morning after the software company announced a strategic partnership with L3Harris Technologies Inc. ($LHX).
According to the company, this partnership combines L3Harris’ expertise in sensors and software systems with Palantir’s Artificial Intelligence Platform (AIP) with the aim of improving decision-making for military operations.
“We’re partnering with L3Harris to ensure that the U.S. and its allies combine the West’s two greatest assets — AI dominance and cutting-edge hardware — on the battlefield,” said Alex Karp, co-founder and CEO of Palantir in the press statement.
The partnership includes ongoing projects with the U.S. Army, such as the Army Tactical Intelligence Targeting Access Node (TITAN) program, which utilizes AI and machine learning to enhance situational awareness for warfighters.
In addition to these collaborative efforts, L3Harris is pursuing internal digital transformation initiatives supported by Palantir’s Artificial Intelligence Platform (AIP).
Together, the companies aim to innovate further by upgrading radios to function as sensors and enhancing satellite capabilities for orbital processing.
Retail sentiment around Palantir on Stocktwits continues to be ‘bullish’ (60/100) with an uptick in chatter to ‘high’ (57/100) from normal, a day ago.
Palantir’s market value currently stands at $97.55 billion, just shy of crossing the $100 billion mark. The company is scheduled to announce its third-quarter earnings on Tuesday.
Retail sentiment around L3Harris is more upbeat in the ‘extremely bullish’ (82/100) territory accompanied by ‘extremely high’ (87/100) chatter.
The stock has gained 21% so far this year.
For updates and corrections email [email protected].
Read more: Apple Stock In Focus After KeyBanc Downgrade: Retail Sentiment Unfazed
