Palantir Technologies Inc. ( PLTR ) shares are trading higher on Friday.

Yesterday, the company inked a pact with Oracle Corporation ( ORCL ) to provide secure cloud and AI solutions to power businesses and governments worldwide. 

As part of the agreement, Palantir ( PLTR ) will move Foundry workloads to Oracle Cloud Infrastructure. 

"Palantir ( PLTR ) and Oracle are both dedicated to defending western interests and institutions around the world," said Josh Harris, executive vice president of Palantir ( PLTR ). 

Oracle's distributed cloud and AI infrastructure, paired with Palantir's ( PLTR ) top AI and decision acceleration platforms, aims to optimize data value, and competitive edge, according to a press release.

According to Benzinga Pro, PLTR stock has gained over 189% in the past year. Investors can gain exposure to the stock via ProShares Big Data Refiners ETF ( DAT ) and Global X Funds Global X Defense Tech ETF .

In a 13G exchange filing, the Denver-based analytical software company said it owns a 6.5% stake in healthcare recoveries and data analytics company MSP Recovery, Inc ( LIFW ) . 

Palantir ( PLTR ) currently holds 955,647 shares of MSP Recovery ( LIFW ).

Price Action: PLTR shares are trading higher by 2.87% to $23.13 on the last check Friday.