Palantir down4% as Anduril-OpenAI deal sparks competition concerns
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Investing.com -- Data analytics company Palantir Technologies Inc (NASDAQ:PLTR) shares fell more than 4% at $68.61 in midday trading on Wednesday.
Stock has gained roughly 300% year to date, driven by its increased demand for its AI platform, used for tasks like testing, debugging code, and evaluating AI-driven scenarios.
The company’s tools also include software that government uses to visualizes army positions.
Earlier today, rival Anduril Industries announced a partnership with OpenAI, the creator of ChatGPT, to develop and deploy advanced artificial intelligence solutions for national security missions.
Palantir shares gained ~7% in Tuesday trading.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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