Oracle teams up with Palantir on AI solutions

Oracle Corp (NYSE: ORCL) just teamed up with Palantir Technologies Inc (NYSE: PLTR) on AI solutions. Its shares are up less than 1.0% at writing.

Details of Oracle – Palantir agreement

The announced partnership will make businesses and governments more efficient as it helps them “maximise the value of their data”.  

Watch here: https://www.youtube.com/embed/Jb2oh0kAKCA?feature=oembed

$ORCL and $PLTR together want to make sure that organisations benefit from the “best cloud infrastructure, cloud applications, and AI” without having to compromise on “highest sovereignty and security standards” either.

Shares of Palantir Technologies are also meaningfully in the green in premarket on Thursday.

The news arrives less than a month after Oracle came in ahead of Street estimates for its third financial quarter as “demand for Gen2 artificial intelligence infrastructure exceeded supply” (find out more).

What’s in it for Palantir Technologies?

Oracle and Palantir will now jointly sell and support artificial intelligence and cloud services not just to a commercial clientele but to governments as well.

Palantir has been selected to participate in the GVAP project (Ground Vehicle Autonomous Pathways)

What is GVAP?
It is a joint initiative from the US Army and Defense Innovation Unit to advance autonomous technology for ground vehicles. The objective is to support high risk… https://t.co/j1mZhGOCez

— Hayley Eich (@hayleyinvests) April 4, 2024

Josh Harris – the executive vice president of $PLTR is confident that partnering with Oracle will “increase our impact and help our global clients gain full benefits of cloud and AI”, as per the press release on Thursday.

Last week, the Defense Information Systems Agency (DISA) picked the big data analytics giant based out of Denver, Colorado to deliver an EMBM-J DS (electromagnetic battle management – joint decision support) prototype.

Note that Palantir shares have now more than tripled versus their 52-week low in the second quarter of 2023.

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