Palantir (PLTR) Wins Key U.S. Army AI Contract in Push for Défense Growth
The 11-month contract will require the involved companies to participate in one of the highest priority projects of the US Army. William Blaire has estimated that $30 million of the total contract value will go to Palantir. It also noted that the contract has the potential to increase to more than $150 million in annual recurring revenue in the next three years.
Palantir (PLTR) Wins Key U.S. Army AI Contract in Push for Défense Growth
A cybersecurity expert monitoring the security of the company's assets, emphasizing the importance of data protection.
The firm's contract tracker reveals that Palantir was awarded $135 million in annual recurring revenue across nine different government contracts for the second quarter. Meanwhile, the NGC2 contract will be part of third-quarter bookings.
Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.
While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 AI Stocks Gaining Attention on Wall Street and 10 AI Stocks Investors Are Watching Closely.
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