Palantir (PLTR.US) collaborates with Anduril to create a new national defense alliance, aiming to challenge traditional defense industry giants.
It is reported that defense technology companies Palantir (PLTR.US) and Anduril are negotiating with a dozen or so competitors to form an alliance to jointly bid for U.S. government contracts, challenging large defense companies.
According to reports, defense technology companies Palantir and Anduril are in talks with a dozen competitors to form an alliance to jointly bid on US government contracts, challenging large defense companies.
The alliance is reportedly planning to announce agreements with several tech companies next month. Companies currently in negotiations to join the alliance include SpaceX, OpenAI, Saronic Technologies, and Scale AI.
One insider involved in forming the alliance revealed, "We are working together to cultivate a new generation of defense contractors."
Tech companies are reportedly seeking a larger share of the US federal government's $850 billion defense budget from companies like Lockheed Martin Corporation, Raytheon Technologies, and Boeing Company.
Over the past year, big data analytics software giant Palantir, known as an "AI darling stock," has seen its stock price surge by 300%, reaching a market value of $169 billion, surpassing Lockheed Martin Corporation. Meanwhile, SpaceX's valuation has reached $350 billion this month, making it the world's largest private startup, and OpenAI, since its founding in 2015, has seen its valuation soar to $157 billion.
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