Summary List Placement
The secretive big data company Palantir, which went public in September, announced a new contract with the Department of Energy’s National Nuclear Security Administration (NNSA) — which oversees the country’s nuclear weapons stockpile — worth $89.9 million over up to five years. Shares of the company are currently worth $23, down some 2% since January.
Under the new contract, finalized last week, the Denver-based Palantir will supply data analysis software for the department’s enterprise-wide Safety Analytics, Forecasting and Evaluating Reporting (SAFER) project.
According to a 2018 document outlining the initiative, the government’s nuclear branch aims to turn its “vast of amounts of data into actionable insights for NNSA decision makers” around safety and executing its mission. NNSA manages over 400 nuclear and hazardous facilities and 39,000 laboratory and plant employees.
A Palantir spokesperson declined to comment on the contract and its federal business.
While Palantir is best known for its much-scrutinized work with defense and intelligence agencies — including taking over the controversial Project Maven AI contract following employee protests at Google — the company has long held that it’s useful in other scenarios. Indeed, its long-term success may depend on it. Wall Street has …read more
Source:: Businessinsider – Politics