This article first appeared on GuruFocus.
Oct 23 – Palantir Technologies (NASDAQ:PLTR) Stock climbed about 2% on Thursday morning after news of a multiyear commercial pact with Lumen Technologies (NYSE:LUMN).
The deal is worth more than $200 million and will be paid over several years, people familiar with the matter told the news service.
Under the agreement, Palantir will supply its Foundry software and its Artificial Intelligence Platform to help Lumen modernize network operations and support a shift from legacy telecom services toward a next-generation technology infrastructure.
The spending commitment is expected to be drawn down over multiple years as Lumen integrates Palantir’s tools across operations, finance and engineering workflows, a move that could speed decision-making and reduce manual processes, analysts said.
Market observers say the deal highlights growing demand from large network operators for enterprise AI platforms and gives Palantir another commercial reference customer as it expands beyond government work. Neither company immediately provided further comment.
