Palantir Technologies (PLTR) is a name commanding significant attention on Wall Street today.
The reason is the reputation built on the back of government agencies, military systems, and intelligence operations
However, a common theme for Palantir is the move to become a favorite of corporate America. SAP (SAP) stated on May 12 that it is extending its partnerships with Palantir and Accenture (ACN) to speed up AI-enabled data migrations for its cloud-based ERP customers. The agreement combines SAP’s migration tools with Palantir’sArtificial Intelligence Platform, or AIP, to help customers automate migration analysis, testing, remediation, and modernization activities.
On first glance, the transaction is just another enterprise software announcement in a crowded AI sector. But for Palantir investors, the bigger news is what it implies about the company’s evolving identity. Palantir is still very much a government and defense play.