PLTR Stock – PLTR Stock: The Palantir-FAA Deal News Should Have Investors Smiling Today
Palantir Technologies (NYSE:PLTR) stock is on the move Friday following news of a deal with the Federal Aviation Administration (FAA).
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The goal of this deal is to assist the FAA in modernizing its ” objectives for aviation safety.” This will have Palantir Technologies providing the agency with a data analyzing tool to help with that effort.
According to a news release, this will have Palantir Technologies monitoring various safety aspects for the FAA. That includes reintegrating the 737 MAX fleet back into service after it was suspended due to fatal crashes.
Palantir Technologies’ deal with the FAA is set to last for one year. However, there’s also the option to extend it by up to two years. The agreement has a maximum value of $18.4 million.