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Palantir Technologies (PLTR), a company that develops artificial intelligence-based military systems, saw its shares soar Monday after NATO announced it had acquired the system.
NATO said Monday that on March 25, it "finalized the acquisition of the Palantir Maven Smart System NATO (MSS NATO) for employment within NATO's Allied Command Operations (ACO), marking a significant advancement in the modernization of NATO's warfighting capabilities."
Financial terms were kept under wraps. The agency said the procurement "was one of the most expeditious in NATO’s history, taking only six months from outlining the requirement to acquiring the system," and that "it is expected that ACO will begin using the new system within the next 30 days."
Palantir’s stock rose by close to 5% on Monday after the news. Shares are expected to increase by a fifth in value by 2025, and have risen more than 3000% over the last year.
UPDATE—April 14, 2025: This article has been updated since it was first published to reflect more recent share price values.
