10:18 AM EST, 03/06/2024 (MT Newswires) -- Palantir Technologies ( PLTR ) said Wednesday the US Army has awarded its subsidiary Palantir USG a $178.4 million contract to lead in the development of 10 ground station Targeting Intelligence Targeting Access Node prototypes and related technology to enhance target recognition and geolocation for the Army.

The TITAN ground station system is intended to be the Army's next-generation deep-sensing capability, enabled by artificial intelligence and machine learning, the company said.

Palantir ( PLTR ) shares were nearly 4% higher early Wednesday trading.

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