By Kelly Cloonan
Shares of Palantir climbed after NATO said it plans to use the company's Maven system to modernize its warfighting capabilities.
The stock rose 9% to $96.13 on Monday. Shares have more than tripled in value over the last 12 months.
The NATO Communications and Information Agency said Monday it finalized the acquisition of the Palantir Maven Smart System NATO on March 25.
The agency didn't disclose the terms of the deal.
The system brings a range of artificial intelligence applications - including large language models and generative and machine learning - to accelerate decision-making and improve targeting, battlespace awareness and planning, the agency said.
NATO expects to employ the technology within its Allied Command Operations within the next 30 days.
The agency plans to use the system to accelerate the adoption of other capabilities in development across its member states including new, emerging AI models, and modeling and simulation.
The deal comes after Palantir's stock took a blow at the end of February through March as the Trump administration proposed cuts to defense spending, raising fears of weaker demand for the company's AI-powered military support.
The stock rebounded last week after Trump said the next defense budget could reach as much as $1 trillion.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 14, 2025 11:40 ET (15:40 GMT)
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