The US Army Just Made Palantir (PLTR) Foundry the Data Backbone of Its Biggest Tech Overhaul

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the best fast growth stocks to buy according to hedge funds. On June 22, Palantir Technologies Inc. (NASDAQ:PLTR) announced that the US Army has established the common data layer baseline for its Next Generation Command and Control (NGC2) program, and selected its Foundry platform as the cloud data layer underpinning the entire architecture.

The US Army Just Made Palantir (PLTR) Foundry the Data Backbone of Its Biggest Tech Overhaul

NGC2 is the Army’s highest-priority modernization initiative. Put simply, it is the Army’s effort to replace fragmented legacy command systems with a unified, data-driven infrastructure. This infrastructure will be able to serve commanders and soldiers at every level of the force, and will give them better information and faster.

Within the architecture, Palantir’s Foundry will handle the cloud data layer, while Anduril’s Lattice will be the tactical data layer, that is, the field-facing component that operates closer to where soldiers are deployed. The two platforms form the data backbone on which all future NGC2 applications and AI-enabled mission capabilities will run.

Commenting on the development, Akash Jain, Palantir USG’s President and CTO, said that the underlying architecture is the “most consequential decisions in a program like NGC2.” He added that the Army establishing a common data baseline for NGC2 from the outset enables it to create “the foundation on which future applications and AI-enabled mission capabilities can be built.” Jain stated: “As the cloud data layer, Foundry helps make that foundation durable and extensible..”

Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that builds and operates data integration and analytics platforms. It primarily serves government agencies and commercial enterprises through its Gotham and Foundry platforms.

While we acknowledge the risk and potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLTR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 8 Best Stocks to Buy According to Billionaire Barry Rosenstein and 10 Most Promising Healthcare Stocks According to Wall Street Analysts.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1