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Palantir Technologies (PLTR, Financials) said Wednesday it's partnering with Fannie Mae to use artificial intelligence to detect mortgage fraudslashing investigation times from months to seconds in early tests.
The new collaboration kicks off in Fannie Mae's multifamily housing unit. CEO Priscilla Almodovar said the goal is to spot fraud more proactively, and that Palantir's system flagged suspicious activity in seconds that once took human investigators two months to uncover. Financial terms of the deal were not disclosed.
Shares of Palantir have climbed more than 140% since Donald Trump's November election win, fueled by renewed interest in public-sector tech modernization. CEO Alex Karp said the program is designed to protect user privacy while delivering rapid insights. William Pulte, head of the Federal Housing Finance Agency, said the fraud detection initiative could eventually expand to Freddie Mac and noted the agency is also in talks with Elon Musk's xAI firm.
Trump has publicly backed efforts to take Fannie Mae and Freddie Mac public while preserving implicit government guarantees. Those plans remain uncertain, but the possibility has kept investor interest high in the agencies' over-the-counter shares. Hedge fund Pershing Square is among the big-name investors betting on a return to public markets.
For Palantir, the deal adds another win in the federal AI spaceand could open doors to broader government contracts as agencies search for ways to cut costs and modernize operations.
This article first appeared on GuruFocus.