04:21 PM EST, 12/18/2024 (MT Newswires) -- Palantir Technologies ( PLTR ) said Wednesday it extended its partnership with the US Army to deliver the Army Vantage capability, supporting the Army Data Platform.

The value of the new contract is about $400.7 million for a period of up to four years, with an available ceiling of about $618.9 million, the company said.

Palantir's ( PLTR ) software enables the Army to develop AI-driven data solutions that integrate, analyze, and visualize information from diverse sources. The Army Data Platform consolidates current, future, and historical structured and unstructured data to improve transparency and effectiveness.

Palantir ( PLTR ) said that since 2018, the US Army used the company's software to "transform how it uses data and artificial intelligence to more effectively perform essential missions and enable faster decision-making across the force."