Palantir Technologies, a data-analytics specialist, has emerged as a major player in the military AI space, giving big tech companies a run for their money. With its latest software suite, the Artificial Intelligence Platform (AIP), Palantir is dominating this niche and securing lucrative federal contracts.
According to Mordor Intelligence, the total addressable market size for AI applications in the defense sector is over $60 billion, with data analytics and robotics automation being key components. Palantir’s public sector operation works closely with government agencies and partners with other technology companies, including Microsoft and Amazon, to integrate AIP into their systems.
Recent partnerships include collaborations with Meta, Microsoft, and Amazon Web Services (AWS), leveraging Palantir’s capabilities across various AI-powered tools. Additionally, the company has secured federal contracts worth up to $100 million and nearly $1 billion with the Naval Information Warfare Center.
These deals signal that the government is increasing its investment in AI, with Palantir consistently benefiting from such work. The company’s U.S. government business is expected to show significant acceleration trends next year as partnerships and contracts bear fruit. As a result, Palantir has emerged as a leading player in the military AI space, poised to capitalize on this growing trend.
Source: https://www.fool.com/investing/2024/12/14/prediction-this-under-the-radar-opportunity-will-b