Palantir Technologies secured a $300 million blanket purchase agreement with the U.S. Department of Agriculture (USDA). This contract supports farm program operations and modernizes digital services for farmers.
The agreement aligns with the department’s National Farm Security Action Plan. It focuses on improving fraud detection and overseeing the supply chain.
The deal supports the Farm Production and Conservation mission. It also advances the One Farmer, One File initiative to simplify program access.
The initiative aims to accelerate payments and disaster assistance. Palantir shares rose 1% in pre-market trading. The stock reached $147 following the announcement.