Palantir Books $480M Army Contract for Maven Smart System Prototype

A Palantir Technologies (NYSE: PLTR) subsidiary has received a five-year, $480 million firm-fixed-price contract from the U.S. Army for the Maven Smart System prototype.

The Department of Defense said Wednesday Palo Alto, California-headquartered Palantir USG is expected to complete contract work by May 28, 2029, at work locations yet to be determined.

According to a Kentucky National Guard release in late February, Maven works to identify areas of interest by fusing data from intelligence, surveillance and reconnaissance systems.

“The Maven Smart System by Palantir along with National Geospatial Agency Broad Area Search – Targeting uses AI generated algorithms and memory learning capabilities to scan and identify enemy systems in the Area of Responsibility… Maven is not replacing the intelligence analyst’s job but simply speeding up the processes while enhancing workflow and efficiency,” the posting reads.

Palantir USG is the sole bidder for the contract, which was solicited via the Internet. Army Contracting Command serves as the contracting activity.

Register here to join the Potomac Officers Club’s 2024 Army Summit on June 13 and be a part of the conversation with thought leaders and decision makers as they discuss all things Army. Click here to learn more about the in-person event.