10 AI News Taking Wall Street by Storm

6. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 43

Palantir Technologies Inc. (NASDAQ:PLTR) provides AI-powered software platforms to government and commercial clients which helps them analyze huge data sets. On December 6, Palantir (PLTR) and defense tech company Anduril Industries announced that they have entered into a partnership that uses defense data for artificial intelligence training. The partnership will require Palantir’s AI platform to structure, label, and prepare defense data for training, where the models will then be deployed onto national security systems. On the other hand, Anduril’s systems will support the retention and distribution of government defense data. As of today, companies are increasingly using AI to automate their workflows. However, the application is still budding in the defense industry due to the sensitivity of data needed for training.

“U.S. companies are developing world-leading models but struggling to deploy them at scale with government partners for defense applications”.

-Palantir Technologies and Anduril Industries