(RTTNews) - Palantir Technologies Inc. (PLTR), a software company, on Monday announced the renewal and expansion of its partnership with an automotive manufacturing corp., Stellantis N.V. (STLA) for an additional five years.
The agreement extends a collaboration that began in 2016 and supports Stellantis in the use of data and artificial intelligence across its operations.
Under the renewed deal, Stellantis will expand its use of Palantir Foundry and begin deploying the Palantir Artificial Intelligence Platform in select business functions and regions.
The company said the platforms will help improve data integration, transparency, and decision-making across complex industrial operations.
On Friday, Palantir Technologies closed trading 3.05% lesser at $143.06, 4.50 cents on the Nasdaq. In the overnight trading, the stock further traded 0.13% lesser at $142.87, 0.19 cents down.
On Friday, Stellantis closed trading 0.59% lesser at $6.71, 0.04 cents on the New York Stock Exchange. In the overnight trading, the stock further traded 0.30% lesser at $6.69, 0.02 cents down.
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