Palantir's Shares Rise - U.S. Agency Cancels Military Intelligence System Tender

Palantir Technologies' stock rose approximately 1% in premarket trading on Friday after Bloomberg reported that the U.S. Defense Intelligence Agency had canceled a tender for upgrading its military intelligence system.

According to a statement from the agency's representative, the decision to cancel the tender was made at the DIA's own request. The system is used to support military operations in various regions around the world, including target identification.

According to Bloomberg, Palantir filed an official protest in May of this year. The company argued that the government was attempting to build a new intelligence platform from scratch, despite the fact that Palantir already has commercially available products of similar purpose and functionality.

The cancellation of the tender complicates the Defense Intelligence Agency's plans, which aimed to modernize its military intelligence system based on artificial intelligence.

According to analysts' assessments, this decision represents a temporary victory for Palantir. The company has recently significantly expanded its collaboration with U.S. defense departments, and its market value and military contract volume have increased considerably under the second Trump administration.