Palantir, Oracle Team Up To Provide Cloud and AI Solutions to Clients – Investopedia

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Key Takeaways

  • Palantir Technologies and Oracle announced a partnership to offer clients secure cloud and artificial intelligence (AI) solutions.
  • The agreement will shift Palantir’s Foundry workloads to Oracle Cloud Infrastructure.
  • Palantir’s Gotham and AI platforms will be deployable across Oracle’s distributed cloud.

Palantir Technologies (PLTR) and Oracle (ORCL) on Thursday disclosed a partnership to offer secure cloud and artificial intelligence (AI) services to its government and business customers.

The technology companies said the deal would help organizations “maximize the value of their data,” allowing them to boost efficiency, address sovereignty requirements that mandate that some data stay within certain national or regional boundaries, and beat their competition. 

The agreement calls for Palantir to move its Foundry operating system workloads to Oracle Cloud Infrastructure. Palantir calls Foundry its central platform for data-driven decision making and situational intelligence. In addition, Palantir’s Gotham software for government customers and its AI software will be deployable across Oracle’s distributed cloud.

Palantir Executive Vice President Josh Harris said that teaming with Oracle “will increase our impact and help our global clients gain the full benefits of cloud and AI.” 

Palantir shares were up 0.6% at $22.83 at around 2:25 p.m. ET Thursday, while Oracle was down 0.6% at $125.45. So far this year, Palantir has gained about 33% and Oracle has added nearly 20%.

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