Palantir (NYSE:PLTR) stock is in the news Wednesday after the big data company announced a new contract with Parexel to enhance its healthcare artificial intelligence (AI) work.
This new agreement will see Parexel adopt Palantir’s Foundry and Artificial Intelligence Platform for use with its clinical data platform. This will allow customers to more easily manage clinical trial data and help increase the speed and effectiveness of setting studies up.
It’s worth pointing out that this makes Parexel the first clinical research organization to sign such a contract with Palantir. This is the culmination of the two companies working together over the last year.
Dr. Lalarukh Haris Shaikh, Executive of Life Sciences at Palantir, said the following about the collaboration:
“Parexel has embraced the principles of digital transformation using generative AI at remarkable speed and scale […] The company will significantly accelerate its business by untapping the value of data via an ontology constructed within Palantir Foundry and connecting it to the immense power of generative AI in AIP.”
PLTR Stock Movement on Thursday
Despite the deal between Palantir and Parexel, shares of PLTR stock aren’t seeing much activity today. Only about 12 million shares have been traded, as compared to a daily average of roughly 69 million shares.
PLTR stock is down 1% as of noon Thursday. However, shares are up 29.1% year-to-date.
Investors will find more hot stock market stories below!
We have all of the latest stock market news available on Thursday! A few examples include what’s happening with Rubrik (NYSE:RBRK), Bristol-Myers Squibb (NYSE:BMY) and more. All of this data is ready to go at the following links!
More Stock Market News for Thursday
- RBRK Stock IPO: 7 Things to Know as Rubrik Starts Trading Today
- Bristol-Myers Squibb Layoffs 2024: What to Know About the Latest BMY Job Cuts
- Why Are Stocks Down Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
