: Palantir’s stock surges toward 17-month high after being awarded U.S. Special Ops contract valued at up to $463 million

Shares of Palantir Technologies Inc. PLTR powered up 7.5% toward a 17-month high in morning trading Monday, after the software company said it was awarded a multiyear contract worth up to $463 million from the U.S. Special Operations Command (USSOCOM). Palantir, which has seen its stock get a recent boost from the artificial-intelligence craze, has made advancements in large language models (LLMs) and edge AI to reduce cognitive load on warfighters and commanders. Palantir’s stock, which was headed for the highest close since Jan. 14, 2022, has rocketed 143.0% year to date, while the SPDR S&P Software & Services exchange-traded fund has climbed 17.3% and the S&P 500 has advanced 11.8%.

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