Palantir, BP ink pact for new AI capabilities

Michael Vi/iStock Editorial via Getty Images Palantir Technologies ( NYSE: PLTR ) and BP ( NYSE: BP ) entered a five-year strategic collaboration to introduce new artificial intelligence capabilities with Palantir's AIP software. The new contract will build on a decade of collaboration between the two companies. Since 2014, Palantir's software has been deployed by BP to support its oil and gas production operations.

The companies noted that Palantir’s AIP software will assist BP to safely and reliably harness large language models, or LLMs, to improve and accelerate human decision-making with suggested courses of action based on automated analysis of the underlying data. More on BP and Palantir Palantir: Irrational Exuberance, Downgrade To 'Sell' Palantir Stock And Its Possible S&P 500 Inclusion Palantir's Partnership With Microsoft Might Sustain Sentiment Palantir being added to S&P 500 is 'validation moment for the story,' Wedbush says Biggest stock movers today: BIG, PLTR, and more.