Why These 10 Firms Recorded Double-Digit Gains Last Week

8. Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies rallied by 20.26 percent week-on-week to close at $112.78 on Friday versus the $93.78 registered on April 17 as investors cheered its partnership with Google to enhance the delivery of services to US government agencies.

In a statement earlier in the week, Leigh Palmer, vice president for technology, delivery, and operations at Google’s public sector, said that the company partnered with Palantir Technologies Inc. (NASDAQ:PLTR) to integrate its Google Cloud in the latter’s FedStart initiative.

The collaboration ultimately aims to beef up government services while upholding the highest security and compliance standards.

Google’s generative artificial intelligence startup, Anthropic, will be the first software company to use the new capability. Its Claude for Enterprise application will be available to federal government agencies through Palantir Technologies Inc. (NASDAQ:PLTR) FedStart on Google Cloud.

“By partnering with industry leaders to bring cutting-edge technologies to the US government, Google can accelerate public sector mission impact and outcomes,” Palmer said.