Why Palantir Technologies Shares Are Gaining Today

Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher in the premarket session on Thursday.

The company announced its partnership with the University of Colorado Anschutz Medical Campus to establish the Center for Linkage and Acquisition of Data, or CLAD.

The development is a part of the National Institutes of Health’s (NIH) “All of Us” Research Program to drive new scientific discoveries and advance precision medicine and research.

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As part of this effort, Palantir’s software will serve as the interoperable, digital backbone of the CLAD platform, securely connecting new types of information.

Palantir’s software can securely ingest, harmonize, evaluate, and assess the quality of the new data sources to ensure data protection and privacy.

After an initial 18-month base period, the award may be renewed annually for up to four additional years so the team can continue to build on this work.

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“This program has the potential to dramatically improve health outcomes and we are excited to be a part of the team,” said Hirsh Jain, Head of Public Health, Federal, Palantir.

PLTR has reportedly experienced a surge in demand from Israel for new tools since the onset of the conflict with Hamas.

“Our products have been in great demand,” Palantir Chief Executive Officer Alex Karp said in an interview in Tel Aviv on Wednesday, which Bloomberg reported.

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Price Action: PLTR shares are trading higher by 1.73% to $17.08 premarket on the last check Thursday. 

Photo by Cory Doctorow via Flickr