08:32 AM EDT, 08/01/2025 (MT Newswires) -- Palantir Technologies ( PLTR ) has been awarded a new enterprise agreement "that establishes a comprehensive framework for the [US] Army's future software and data needs," the Army said in a statement late Thursday.

The Army said the agreement allows it to consolidate 75 contracts, comprised of 15 prime contracts and 60 related contracts, into a single contract.

The agreement establishes volume-based discounts for the contract's performance period of up to ten years, the Army said.

The Army said it and other Department of Defense agencies have the option to purchase Palantir's ( PLTR ) commercial products during that period, not to exceed the $10 billion cap, which "represents the maximum potential value of the contract, not any specific obligations or commitments."

Palantir ( PLTR ) shares were down more than 1% in recent Friday premarket activity.