Palantir’s stock rises as company discloses new Army AI contract worth up to $250 million

Palantir Technologies Inc.
PLTR,
+6.02%
won a new Army contract involving artificial intelligence, the company said Tuesday. The contract supports the Combatant Commands (COCOMs), Armed Services, Intelligence Community and Special Forces as those groups “continue to test” AI capabilities, Palantir said in a release. The new contract was posted to the Department of Defense’s website last week and is worth up to $250 million through 2026. Palantir shares were up about 2% in Tuesday’s premarket trading.