Palantir lands $10 billion Army software and data contract

In this articlePLTR your favorite stocksCREATE FREE ACCOUNTAlex Karp, CEO of Palantir, attending the annual Allen & Co

Grogan | CNBCPalantir has inked a contract with the U.S

Army worth up to $10 billion to meet growing warfare demands over the next decade.As part of the deal, Palantir will help the military line efficiencies while preparing for threats, consolidating 75 total contracts into one enterprise deal, the release states.The agreement creates a "comprehensive framework for the Army's future software and data needs" that vides the government with purchasing flexibility and removes contract-related fees and curement timelines, according to a release.Read more CNBC newsTesla Autopilot plaintiffs seek $345 million in damages over fatal crash in FloridaFacing questions on AI strategy, Tim Cook says Apple is 'very open' to acquisitionsFigma's top VCs are sitting on $24 billion worth of stock after massive IPO popAmazon's gloomy earnings forecast overshadows better-than-expected resultsThe deal further cements the company's role in the U.S. government's clampdown on cost efficiencies by using artificial intelligence tools in President Donald Trump's administration