Palantir Technologies (NASDAQ:PLTR) shares dropped 7.89% to $78.21 as of 10:49 AM ET on Monday, following news of its new AI-powered partnership with Voyager Technologies to tackle space debris and collision threats.
The collaboration focuses on Space Domain Awareness, leveraging Voyager's signal processing tech and Palantir's AI-driven analytics to track and classify orbital objects. Voyager's VPX signal processing electronics, intelligence software, and mission services will integrate with Palantir's machine-learning systems to create real-time monitoring solutions.
"We are extending AI solutions from ground to space, a critical frontier where demands are intensifying," said Robert Imig, head of USG Research and Development at Palantir.
Voyager, a Denver-based defense tech firm, recently rebranded to sharpen its national security focus. Key leadership changes include Matt Magana (formerly with Raytheon (NYSE:RTX) as president, Wallis Laughrey as chief strategy officer, and Dan Caine, a retired U.S. Air Force lieutenant general, as chairman of its defense advisory board.
Despite the promising collaboration, Palantir's stock remains under pressure, extending its recent decline.
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