Palantir, Lumen Partner in Multi-Year Deal Worth ~$200M to Accelerate Enterprise AI Deployment

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks that should double in 3 years. On October 23, Lumen Technologies Inc. (NYSE:LUMN) and Palantir Technologies announced a new multi-year partnership designed to accelerate the secure and rapid deployment of AI within businesses.

Palantir, Lumen Partner in Multi-Year Deal Worth ~$200M to Accelerate Enterprise AI Deployment

The partnership will integrate Palantir’s foundry and AI platform with Lumen’s connectivity fabric, which is a digital networking solution for bridging the gap between advanced AI capabilities and high-performance network infrastructure required for enterprise AI transformation. Bloomberg reported that Lumen has agreed to spend ~$200 million on Palantir software over a period of several years.

Palantir Technologies Inc. (NASDAQ:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the US, the UK, and internationally.

Lumen Technologies Inc. (NYSE:LUMN) is a networking company that provides integrated products and services to business and mass customers in the US and internationally

While we acknowledge the potential of PLTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLTR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.