Palantir Technologies (NYSE: PLTR) stock fell in the early trading hours Tuesday following the announcement of its participation in an NSF-backed climate resilience initiative.
Palantir (PLTR) announced that it has joined the Colorado-Wyoming Regional Innovation Engine (CO-WY Engine), which received a grant from the US National Science Foundation (NSF) as part of its Regional Innovation Engines program. This initiative aims to address significant climate-related challenges across the nation.
As part of the CO-WY Engine, Palantir, a Denver-based company specializing in big data analytics, will contribute its expertise in artificial intelligence and data integration. The collaborative effort involves various stakeholders, including government agencies, private enterprises, nonprofits, and academic institutions, all working together to develop innovative solutions for climate resilience.
Lauren Penneys, Senior Vice President of Federal New Programs at Palantir, expressed enthusiasm about the company’s participation in the initiative. She emphasized the critical role of such a multifaceted partnership in advancing environmental technology.
Apart from this, Palantir Technologies has confirmed that it will unveil its financial results for the first quarter ending March 31, 2024, on Monday, May 6, 2024, after the market close.
Palantir (NYSE: PLTR) Stock Performance
PLTR stock dropped 1.62% to $21.55 at the time of publication. The traders had exchanged hands with 12,489,319 (12.48 million) shares compared to the average daily trading volume of 69.75 million.
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