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Palantir Stock Surges on UK Defense Partnership Announcement
Palantir Stock Surges on UK Defense Partnership Announcement
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BTCCSquare news:
Palantir Technologies shares climbed 4.1% Thursday following the UK government's announcement of a strategic partnership with the AI-powered intelligence firm. The deal positions Palantir to become the UK's European defense technology hub, with commitments for $1.5 billion in investments and 350 high-skilled jobs.
The agreement focuses on developing AI capabilities for UK military applications, though specific contract values remain undisclosed. Market enthusiasm contrasts with Palantir's steep valuation metrics—a 560 P/E ratio and 123 price-to-sales multiple—highlighting the speculative nature of this defense tech play.
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