Palantir Technologies (PLTR) and startup Anduril are talking with many other tech companies, including OpenAI and Elon Musk’s SpaceX, to form a consortium to jointly bid on U.S. government contracts, The Financial Times reported Sunday.
The aim is to take on traditional defense giants such as Lockheed Martin (LMT), Northrop Grumman (NOC), Boeing (BA) and RTX (RTX).
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Palantir and Anduril also reportedly are talking to Saronic and ScaleAI. Palantir and Anduril aim to announce a series of alliances next month, the FT said.
Musk, as co-leader of President-elect Donald Trump’s government efficiency drive, has signaled he will target Pentagon spending. He has specifically criticized the F-35 fighter jet as wasteful. Lockheed Martin makes the F-35, with Northrop Grumman a major sub-contractor. Boeing is a would-be competitor to SpaceX in private space fight.
Tesla (TSLA) has soared since the election in the belief that the Trump administration will favor the EV giant. But there arguably is far scope for Trump to aid SpaceX, via defense and space government contracts.
Palantir stock was indicated slightly higher Sunday night on Robinhood.
Palantir stock jumped 8.5% on Friday to 80.55, a record close. PLTR stock is by far the top performer in the S&P 500 index this year, up 369%.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
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