Palantir Technologies, Inc. (PLTR) is attracting investor attention as rumors swirl about the company’s potential investment in drone startup Shield AI. The Denver-based data analytics firm, known for its AI-powered solutions, is reportedly in talks to participate in a new funding round for Shield AI, a defense technology company based in San Diego, California.
Shield AI is developing advanced AI pilot systems for drones, including the MQ-35 V-Bat vertical takeoff and landing (VTOL) drone and a series of quadcopters. The startup seeks to raise approximately $200 million in its funding round, significantly increasing its valuation to $5 billion. Other potential investors in the round include aerospace giants Airbus SE ($EADSY), L3Harris Technologies, Inc. ($LHX), and venture capital firms like Andreessen Horowitz, Point72, and Riot Ventures.
In addition to these developments, Palantir has also been linked to other high-profile defense industry ventures. A recent Financial Times report mentioned that Palantir and defense technology firm Anduril are exploring the formation of a consortium to bid for U.S. government defense contracts, tapping into the Pentagon’s $850 billion budget.
Despite these developments, Cantor Fitzgerald initiated coverage of Palantir stock with a “Neutral” rating and a price target of $72. The target suggests a limited upside potential of just 4%, signaling that analysts remain cautious about Palantir’s immediate prospects despite its strong positioning in the defense and AI sectors.
CWEB analysts are carefully monitoring the implications of Palantir’s rumored investment in Shield AI and other defense-related initiatives. While the stock has attracted attention due to its involvement in emerging technologies like drones and its potential role in major government contracts, analyst sentiment remains mixed. The market response to Palantir’s potential for growth in these areas will likely continue to shape investor outlook in the coming sessions.
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