Palantir To Debut New Software, Apps At Inaugural Demo Day
All eyes will be on Palantir Technologies (NYSE: PLTR) Tuesday as it demonstrates its proprietary software for the first time.
What Happened: On Jan. 21, Palantir issued an update to investors outlining the specifics of what it plans to release during its inaugural “Demo Day.”
On top of demonstrating how Gotham and Foundry, Palantir’s data platforms, work, the company said it will also demo other software from its modular strategy.
Why It Matters: Investors have yet to see demonstrations of Palantir’s software platforms and their applications.
At 4:30 p.m. Tuesday, Palantir will demonstrate examples of how its platforms Foundry and Gotham work, in addition to its applications for government agencies, manufacturers and commercial customers. Palantir will also show investors how its continuous delivery software Apollo powers Foundry and Gotham in any environment, even in places where other SaaS systems could never operate.
What’s Next: The COVID-19 pandemic made it evident the U.S. government needed to find ways to store and access big data quickly. Palantir was awarded a $1.5-billion contract by the Trump administration for the use of its software.
Palantir’s contract with the U.S. government was published in June 2020, followed three months later by Palantir going public on Sept. 30. Details of the contract and how the government is using Palantir’s software, however, have so far remained largely unknown.
The event tomorrow will give investors their first glimpse into Palantir’s technology and help to make clear how the U.S. government is using its software on mass scale.
PLTR Price Action: Shares of Palantir were down 0.89% at $32.29 at last check Monday.
Photo by Austin Distel on Unsplash.
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