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Ready? Fly! | Palantir Bullets #19
This week's Palantir developments and the crowned “Tweet of the Week”
Editor: Emanuele Marabella
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Palantir last week:
Palantir awards an $18.5mn contract modification with the US Air Force over Project Brown. The project, which focuses on personnel readiness, started in 2021 and expanded by $54mn in May. According to Defense Daily, the total cumulative face value of the contract is about $195.7 million.
“Work will be performed in Palo Alto, California, and is expected to be completed by June 15 this year, according to the notice.” - DefenseDaily
Palantir is one of the 18 vendors selected by The Space Systems Command to provide data analytics and software services for a $900mn contract. The award is a firm-fixed-price, multiple awards, indefinite-delivery/indefinite-quantity contract (IDIQ) which is expected to be complete by March 2028. Among the 18 selected providers, there are BAE Systems, C3 AI, and EY. Palantir is set to have a crucial role: Warp Core, the platform Palantir developed in 2021 for the Space Systems Command’s Space will operate as the software infrastructure for other vendors.
“Warp Core was activated in October 2021. The vendors under the IDIQ contract will work with the Warp Core platform and provide “capabilities that require the aggregation of massive amounts of data from disparate sources and systems.” - SpaceNews
Palantir wins a renewal with AUSTRAC to support financial criminal investigations. AUSTRAC is the Australian Transaction Reports and Analysis Centre and a client since 2017. Interestingly, AUSTRAC leverages both Gotham and Foundry.
“AUSTRAC utilizes Palantir Technologies’ Gotham and Foundry software platforms to integrate and fuse large-scale data across their enterprise, driving decisions and operational outcomes.” - Palantir Press Release
HD Hyundai acquired a 25% Stake in Palantir Korea in December. The Joint Venture has similar nature to the one with Sompo and seeks to accelerate the distribution of Palantir in the South Asian region both to public and commercial customers.
“Their new joint venture will introduce and provide customized big data platform services to the public and private sectors in Korea. HD Hyundai will be responsible for establishing a foothold in the Korean market and devising an entry strategy.” - Business Korea
- underscores that the link activity in Canada is expanding both in the Commercial and Government space. Either also found evidence that the Calgary police department has been using Palantir Gotham for more than 10 years.
“In recent discoveries, however, I’ve noticed an expansion in industries covered by Foundry. Energy and Retail companies are the primary drivers for growth, with names like TransAlta and Canadian Natural Resources and other examples for other industries like Food and Defense.” - Palantir’s Missing Link
Palantir CEO Alex Karp’s interview with L’Obs is public. In the Interview, Karp shared that the French intelligence services have been trying to substitute Palantir in the last two years. Despite this, Karp is confident that in the medium term, Government Revenues are going to be boosted by the war.
“Government revenues are increasing due to the war. Five years from now, I think we will still be around 50/50.” - Alex Karp, Palantir CEO
Pentagon requests more than $1.8bn for AI. The budget proposal, which would consist of a 4% increase vs. 2023 to $145 billion also includes $1.4 billion for Joint All-Domain Command and Control (JADC2) initiatives, which aim to better connect the military’s sensors, shooters, and networks.
“That money “supports efforts to deliver and adopt responsible AI/ML-enabled capabilities on secure and reliable platforms. Workforce development, and DOD-wide data management and modernization efforts.” - DefenceScoop
Palantir is going to participate in Deloitte’s AI Webinar on the 30th of March. Global Tech Lead Matija Bagić will talk about how to use AI to support decision-making in manufacturing.
Tweet of the week
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