Latest news with #ProjectMaven
Business Insider
3 days ago
- Business
- Business Insider
Mark Zuckerberg and Palmer Luckey end their beef and partner to build extended reality tech for the US military
Meta CEO Mark Zuckerberg and Anduril founder Palmer Luckey — once on warring sides of the tech culture clash — are giving new meaning to the adage: all is fair in love and war. The two executives buried the hatchet and announced a partnership Thursday to build next-gen extended reality gear for the US military. The system, dubbed Eagle Eye, will use AI and sensors in new headsets and other wearables to enhance vision, letting troops spot far-away threats with augmented reality, Luckey said on a podcast. Anduril's Lattice, its AI command-and-control platform, will provide real-time battlefield intel. The partnership will also use tech from Meta's Reality Labs and Llama AI models. The companies said they're building the tech with "private capital, without taxpayer support," promising to save the US military "billions of dollars," Anduril said in a statement. They will also be using tech "originally built for commercial use." Anduril raised $1.5 billion in August 2024 and is reportedly raising as much as $2.5 billion more, Reuters reported in February. The announcement also comes amid a flush of venture cash and Big Tech interest rushing toward defense tech. In 2024, VC investments in defense-related companies hit $31 billion, up 33% year-over-year. Meta's peers have also renewed interest in the space. In February, Google updated its ethical guidelines for AI, removing previous pledges not to use its tech for weapons or surveillance tools, a vow made after thousands of employees protested the company's involvement in the DoD collaboration Project Maven in 2018. Big Tech companies are also cozying up to the Trump administration — a move that was once the source of Zuckerberg and Luckey's beef. Luckey, who sold his VR startup to Facebook in 2014, was ousted from Facebook in 2016 after donating $10,000 to a pro-Trump meme group. (Facebook and Zuckerberg have denied that Luckey departed due to his politics.) The Wall Street Journal reported in 2018 that Zuckerberg and other Facebook execs pressured Luckey to publicly back libertarian presidential candidate Gary Johnson instead. Luckey founded Anduril in 2017. Almost a decade later, Luckey and Zuckerberg appear to be letting bygones be bygones. The duo even hinted at working together late last year after Luckey visited Meta's headquarters to demo the company's Orion glasses and posted a picture in them on X. — Palmer Luckey (@PalmerLuckey) September 30, 2024 "I am infamously good at holding grudges, but Meta has changed a lot over the past years," Luckey wrote on X in October 2024. "The people responsible for my ouster and internal/external smear campaign aren't even around anymore. At some point, the Ship of Theseus has sailed." "I have a huge amount of respect for Palmer — both for what he's done for VR and for now achieving the rare feat of building multiple successful companies," Zuckerberg told Tablet Magazine last fall. "I was sad when his time at Meta came to an end, but the silver lining is that his work at Anduril is going to be extremely important for our national security." "This is cool to see," Elon Musk chimed in response to Luckey's X post. "Mensch to mensch."
Time of India
4 days ago
- Business
- Time of India
Why Palantir Technologies is the Pentagon's favorite tech company — top facts revealed
Palantir Technologies , once best known for data analytics, has now become a leader in the software and artificial intelligence (AI) sectors, most notably in defence technology, which has benefitted the company in the past two quarters, as per a report. Defense Contracts Are Propelling Palantir's Growth Palantir's expansion has been spurred by government contracts worth millions of dollars, including a $30 million software agreement with Immigration and Customs Enforcement (ICE), according to The Street. While, the firm also received good news from the Pentagon recently, as it revealed that it will substantially boost its funding for Palantir's Maven Smart System , as per the report. The Pentagon raised the project's funding to $1.3 billion over the four years, an increase of approximately $795 million, reported The Street. What Is Project Maven? Project Maven, started in 2017 by the US Department of Defence, applies AI and machine learning to analyse huge amounts of data, images from drones, satellites, and sensors, which will be used to track and detect potential threats, according to The Street report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ingin Tahu Tentang Diagnosis Limfoma? Dapatkan Info Selengkapnya Limfoma Baca Undo Demand for Palantir's AI Software Is Growing Demand for Palantir's MSS has risen and an official from the department recently issued a statement, saying, 'Combatant commands, in particular, have increased their use of MSS to command and control dynamic operations and activities in their theaters. In response to this growing demand, the [Chief Digital and AI Office] and Army increased capacity to support emerging combatant command operations and other DOD component needs,' quoted The Street. Already Embedded Across US Military Branches According to The Street report, the additional funding will be used for US combatant commands that oversee military operations. Live Events While, Palantir Technologies already has contracts with the US Army, Air Force, Space Force, and Navy for its MSS software licences, reported The Street. FAQs Why is the Pentagon working so closely with Palantir? Because Palantir's AI tools, like the Maven Smart System, help analyze data from drones and satellites to detect threats. What does Palantir actually do now? Palantir started in data analytics but now focuses heavily on AI-powered defence and military software.
Yahoo
5 days ago
- Business
- Yahoo
Palantir gets great news from the Pentagon
It's been an excellent past two quarters for Palantir Technologies () , and things only seem to be getting better. The multi-faceted tech company, once seen purely as a data analytics play, has emerged as a leader in the software field, bringing artificial intelligence (AI) tools to the booming defense technology market. This new status has made it one of the past year's biggest breakout stocks, particularly within the AI market. 💵💰💰💵 As some of the tech sector's most prominent AI stocks have struggled amid rising uncertainty, Palantir has demonstrated strong resilience. This has kept it in focus as investors consider the best ways to play the ever-evolving AI market. Palantir's progress has been largely driven by its lucrative defense contracts, including a $30 million software deal from Immigration and Customs Enforcement (ICE). But the company recently revealed something else that indicates demand for its services is still rising. For years, Palantir has benefited from defense contracts as the U.S. government has recognized the military applications of its technology. In recent months, however, speculation has risen that Palantir founder and chairman Peter Thiel's ties to Elon Musk serve to help the company procure even more federal certainly seems to be the case, even as Musk prepares to scale back his work with the Department of Government Efficiency (DOGE). The Pentagon has revealed that it will significantly increase the budget for Palantir's Maven Smart System to $1.3 billion over the next four years, an increase of roughly $795 million. Launched in 2017, Project Maven is an initiative by the U.S. Department of Defense (DOD) to integrate AI and machine learning into military technology. This includes using AI to analyze significant amounts of data and images from satellites, drones, and sensors to track and detect potential threats. Now, the DOD seems to believe it will have considerably more use for Palantir's technologies concerning mission support systems (MSS), as it has significantly increased its budget for software licenses. An official from the department recently issued the following statement: 'Combatant commands, in particular, have increased their use of MSS to command and control dynamic operations and activities in their theaters. In response to this growing demand, the [Chief Digital and AI Office] and Army increased capacity to support emerging combatant command operations and other DOD component needs.' More Palantir News: Palantir leader has shocking take on Elon Musk and DOGE Analysts reset Palantir stock forecast amid rally Venture capital leader has harsh words for Palantir As Defense Scoop reports, though, few details have been provided regarding the MSS deployment, specifically which groups will gain access to the new software licenses. However, other reports indicate that this additional funding has been designated for U.S. combatant commands that oversee military operations. This new focus on software license spending from the DOD is a clear catalyst for Palantir, which stands to benefit significantly. The company has contacts with the U.S. Army, Air Force, Space Force, and Navy for its Maven Smart System software part of the DOD with a clear interest in Palantir's technology is the National Geospatial-Intelligence Agency (NGA), which has maintained operational control of Maven's geospatial intelligence aspects since 2022. The combat support agency recently awarded the company a $28 million contract to expand Maven access for its analysts. NGA Director Vice Admiral Frank Whitworth recently stressed the importance of the Maven Smart System as a key component of the agency's plans, noting the speed and space provided by AI integration. 'Everyone dives in on this…our own experts, Palantir's experts, even experts from the combatant commands,' he recently stated. This focus from the Pentagon is likely to help Palantir solidify its position as a top player in the defense technology and AI spaces. Experts such as Wall Street veteran Stephen Guilfoyle have touted its potential in this area, highlighting it as a likely winner as the Trump administration doubles down on both gets great news from the Pentagon first appeared on TheStreet on May 27, 2025
Miami Herald
5 days ago
- Business
- Miami Herald
Palantir gets great news from the Pentagon
It's been an excellent past two quarters for Palantir Technologies (PLTR) , and things only seem to be getting better. The multi-faceted tech company, once seen purely as a data analytics play, has emerged as a leader in the software field, bringing artificial intelligence (AI) tools to the booming defense technology market. This new status has made it one of the past year's biggest breakout stocks, particularly within the AI market. Don't miss the move: Subscribe to TheStreet's free daily newsletter As some of the tech sector's most prominent AI stocks have struggled amid rising uncertainty, Palantir has demonstrated strong resilience. This has kept it in focus as investors consider the best ways to play the ever-evolving AI market. Palantir's progress has been largely driven by its lucrative defense contracts, including a $30 million software deal from Immigration and Customs Enforcement (ICE). But the company recently revealed something else that indicates demand for its services is still rising. For years, Palantir has benefited from defense contracts as the U.S. government has recognized the military applications of its technology. In recent months, however, speculation has risen that Palantir founder and chairman Peter Thiel's ties to Elon Musk serve to help the company procure even more federal partnerships. Related: Wall Street veteran doubles down on Palantir That certainly seems to be the case, even as Musk prepares to scale back his work with the Department of Government Efficiency (DOGE). The Pentagon has revealed that it will significantly increase the budget for Palantir's Maven Smart System to $1.3 billion over the next four years, an increase of roughly $795 million. Launched in 2017, Project Maven is an initiative by the U.S. Department of Defense (DOD) to integrate AI and machine learning into military technology. This includes using AI to analyze significant amounts of data and images from satellites, drones, and sensors to track and detect potential threats. Now, the DOD seems to believe it will have considerably more use for Palantir's technologies concerning mission support systems (MSS), as it has significantly increased its budget for software licenses. An official from the department recently issued the following statement: More Palantir News: Palantir leader has shocking take on Elon Musk and DOGEAnalysts reset Palantir stock forecast amid rallyVenture capital leader has harsh words for Palantir As Defense Scoop reports, though, few details have been provided regarding the MSS deployment, specifically which groups will gain access to the new software licenses. However, other reports indicate that this additional funding has been designated for U.S. combatant commands that oversee military operations. This new focus on software license spending from the DOD is a clear catalyst for Palantir, which stands to benefit significantly. The company has contacts with the U.S. Army, Air Force, Space Force, and Navy for its Maven Smart System software licenses. Related: Palantir stock makes history as analysts revamp price target One part of the DOD with a clear interest in Palantir's technology is the National Geospatial-Intelligence Agency (NGA), which has maintained operational control of Maven's geospatial intelligence aspects since 2022. The combat support agency recently awarded the company a $28 million contract to expand Maven access for its analysts. NGA Director Vice Admiral Frank Whitworth recently stressed the importance of the Maven Smart System as a key component of the agency's plans, noting the speed and space provided by AI integration. "Everyone dives in on this…our own experts, Palantir's experts, even experts from the combatant commands," he recently stated. This focus from the Pentagon is likely to help Palantir solidify its position as a top player in the defense technology and AI spaces. Experts such as Wall Street veteran Stephen Guilfoyle have touted its potential in this area, highlighting it as a likely winner as the Trump administration doubles down on both areas. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
22-05-2025
- Business
- Yahoo
Palantir (PLTR) Lands $1.3B Pentagon Win as AI Goes to War
Palantir Technologies (PLTR, Financials) just scored a major defense expansion. The Pentagon raised its contract ceiling for Palantir's Maven Smart System to $1.3 billion through 2029, up from $480 million, marking a $795 million vote of confidence in AI-led battlefield operations. Project Maven, launched in 2017, is the military's frontline AI tool for scanning satellite and drone footage to flag and track threats. Since taking over its geospatial functions in 2022, the National Geospatial-Intelligence Agency (NGA) has pushed the system into wider use. Adoption has exploded. More than 20,000 active users now rely on Maven four times the number from March. NGA also signed a new $28 million contract to expand access further. The speed is what's turning heads. One unit recently slashed its sensor-to-target time from hours to minutes. Army leadership now wants Maven to help troops make 1,000 battlefield calls in a single hour identifying, verifying, or dismissing threats in real time. William Blair analysts say adoption has blown past forecasts, and NGA Director Vice Adm. Frank Whitworth called Maven the Pentagon's marquee targeting program. The system is built on a tight-knit collaboration between Palantir, combatant commands, and about a dozen subcontractors a digital team sport, as Whitworth put it. Investors betting on AI in defense now have a front-row view of what scaled battlefield automation could look like and Palantir's role in insider trades for PLTR. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
