Palantir (PLTR) Wins $100M U.S. Army Contract for Next-Gen Command and Control

Palantir Technologies Inc. (NASDAQ:PLTR) ranks among the best momentum stocks to buy. Palantir Technologies Inc. (NASDAQ:PLTR) was awarded a $100 million contract by the U.S. Army to the Anduril-Palantir collaboration for the Next-Generation Command and Control (NGC2).

Palantir (PLTR) Wins $100M U.S. Army Contract for Next-Gen Command and Control

Announced on July 21, the 11-month contract tasks the companies to develop the next phase of NGC2, one of the top-priority projects for the U.S. Army. The contract is considered a major victory for both companies, and Palantir Technologies Inc. (NASDAQ:PLTR) will likely choose to integrate its Edge Data Mesh and Maven Smart System into NGC2.

Palantir Technologies Inc. (NASDAQ:PLTR) will receive $30 million of the total contract value, according to William Blair, with the possibility of growing that amount to exceed $150 million in annual recurring revenue over the next three years.

Palantir Technologies Inc. (NASDAQ:PLTR) is a software and data analytics company that develops platforms for large corporations, financial institutions, and government organizations to analyze massive amounts of data.

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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