Palantir stock up 5% after expanding its cloud partnership with Microsoft, public sector
Palantir (PLTR) stock up 5% after expanding its cloud partnership with Microsoft (MSFT), public sector
PLTR
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By Senad Karaahmetovic
Shares of Palantir Technologies Inc (NYSE:PLTR) are up almost 5% in pre-market after the data analytics company said its Palantir Federal Cloud Service (PFCS) achieved FedRAMP authorization.
This will help support workloads at U.S. Department of Defense (DoD) Impact Level (IL) 4 and DOD IL5 on Microsoft (NASDAQ:MSFT) Azure, Palantir said in a statement.
The expanded partnership between Palantir and Microsoft to support the public sector will bring “the best in class cloud components to the federal marketplace,” the company further noted.
“With the successful completion of FedRAMP and IL4 and IL5 accreditation on Microsoft Azure Commercial and Azure Government, Palantir and Microsoft are prepared to bring best-in-breed solutions to the federal government,” said Akash Jain, President, Palantir USG.
Palantir said it aims to support IL6 via multi-cloud service integration.
Shares are up 30% year-to-date (YTD).
