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Shares of Palantir Technologies (NASDAQ:PLTR) surged more than 5% on Monday following NATO's announcement that it had acquired the company's AI-powered military system, the Palantir Maven Smart System NATO (MSS NATO).
The acquisition, finalized on March 25, marks a significant step in NATO's efforts to modernize its warfighting capabilities. According to a statement, the new system will be used within NATO's Allied Command Operations (ACO) and is expected to be operational within 30 days.
The deal was described as one of the fastest procurements in NATO's history, taking just six months from the initial requirement to acquisition. However, the financial terms of the agreement were not disclosed.
The acquisition of Palantir's cutting-edge technology highlights NATO's ongoing push to integrate advanced AI systems into its operations. Investors reacted positively to the news, driving the stock higher.
Palantir's innovative approach to military intelligence and data analytics continues to attract attention, particularly from the government and defense sectors.
This article first appeared on GuruFocus.