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Palantir punches with IBM couplingINTL

Palantir punches with IBM coupling

Palantir Technologies, a tech software company specialized in data analytics, just scored the deal of a lifetime with tech giant International Business Machines Corp. (IBM), giving it access to a sales team of over 2,500. They currently have a sales staff of 30, so it’s safe to call this an upgrade.

Palantir (PLTR), which listed on the New York Stock Exchange in September, saw its shares jump by 10% in the wake of the news.

This is a win for IBM too, though, as the partnership will give it the opportunity to make its artificial intelligence software more customer-friendly, since Palantir’s software requires little to no coding (allowing for less technical employees to use it). Its shares were trading about 1.2% higher on Monday.

why it matters
IBM is heavily betting on expanding its AI and cloud services, so strategic deals like this one only make sense. We recently reported that IBM is presumably even closing its blockchain to refocus its attention on the growing cloud computing industry.