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Palantir Forecasts Major Increase in Its Share of DoD, Other Federal Software Business

Frank Wolfe Frank Wolfe
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Palantir Forecasts Major Increase in Its Share of DoD, Other Federal Software Business
Alexander Karp, co-founder and chief executive officer of Palantir Technologies Inc., speaks during a Bloomberg Television interview in Washington, D.C., U.S., on Aug. 22, 2019. Palantir Technologies agreed to extend a contract to provide U.S. immigration authorities with data-mining software and dismissed concerns from activists who say the technology enables unethical policies, including the separation of migrant families. (Getty Images Photo)

Denver-based Palantir Technologies, Inc. [PLTR] forecasts a major increase in the company's share of DoD, intelligence community, and other federal software business, as the company seeks to become the "central operating system for all U.S. defense programs," per last month's prospectus for the company's initial public offering (IPO). While the company has been a significant player in the provision of artificial intelligence (AI) capabilities for the Pentagon, Palantir has also had trouble turning a profit. For example, while Palantir had…

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