Palantir Technologies Inc. ( PLTR ) shares are trading higher on Wednesday in the premarket session.

The Army Contracting Command – Aberdeen Proving Ground (ACC-APG) has awarded Palantir USG, Inc. a prime contract worth $178.4 million for developing and delivering the Tactical Intelligence Targeting Access Node (TITAN) ground station system. 

TITAN, enabled by Artificial intelligence (AI) and machine learning (ML), represents the Army’s next-gen deep-sensing capability.

TITAN integrates systems, technologies, and software from a team of traditional and non-traditional partners.

Palantir’s TITAN solution prioritizes Soldier usability, integrating feedback from Soldier touchpoints throughout development. Palantir ( PLTR ) will provide the critical foundation to correlate, fuse, and integrate sensor data. 

Overall, the TITAN system will provide real-time actionable intelligence using AI/ML modeling to process increasing volume, velocity and variety of data that will be implemented at the tactical edge.

In a separate press release, Palantir ( PLTR ) announced that more than 60 customers will showcase their work in Palantir’s Artificial Intelligence Platform (AIP) at its upcoming AIPCon, including the unveiling of 20+ new customers & partners.

The conference will be live streamed on Palantir’s YouTube channel on Thursday, March 7, 2024.

Palantir ( PLTR ) introduced AIP in mid-2023. Since launching, nearly 850 AIP Bootcamps have been completed in the United States and around the world.

Earlier this week, Palantir ( PLTR ) announced a new partnership with the Ministry of Economy of Ukraine. 

Price Action: PLTR shares are trading higher by 9.45% to $26.06 premarket on the last check Wednesday. 

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