By Sam Boughedda
Investing.com — Artificial intelligence firm BigBear.ai announced Monday it has teamed up with Palantir Technologies Inc (NYSE:PLTR).
Palantir's stock is up 1.66% at $23.21, after hitting a high of $23.52 at the open.
Palantir's Foundry platform will be integrated with BigBear.ai's Observe, Orient, and Dominate products, creating what is described as powerful machine learning extensions for Palantir.
While BigBear.ai will have an opportunity to extend Palantir's products, the companies added that they will also look at taking joint products to market.
By introducing joint products, Palantir would have an opportunity to increase its addressable opportunities, something that investors would cheer after the company's recent earnings report, which showed slowing revenue growth.
"We see immense opportunities to deliver more, faster for customers by partnering with cutting edge companies who can leverage Foundry as Infrastructure in their offerings," commented Akash Jain, president of Palantir USG.
"BigBear's unique AI capabilities can achieve scalable distribution across government and commercial customers alike through Apollo and Foundry," Jain said.