Peter Thiel’s Palantir Extends Partnership With Boeing Rival Airbus

Software company Palantir Technologies Inc. (NASDAQ:PLTR), co-founded by Peter Thiel, has announced the expansion of its partnership with aircraft manufacturer Airbus SE (OTC:EADSY) (OTC:EADSF).

In an official press release published on Tuesday, the companies announced the extension of their collaboration after signing a multi-year agreement on the open data platform Skywise, developed jointly by the two companies.

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According to the statement, the Skywise platform helps combine “in-flight engineering and operational data in an analytic rich environment.” Currently, over 50,000 users utilize the platform to help in its daily operations, the statement said.

Palantir’s Executive Vice-President Josh Harris hailed the partnership, sharing that it would help the company continue to deliver “secure, AI-enabled capabilities with multiple LLMs” that would help improve “manufacturing and supply chain” as well as “maintenance and flight operations.”

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The news comes as “The Big Short” fame investor Michael Burry predicted that the AI company will experience a nearly 60% decline in stock value, with his forecasted ultimate “Landing Area” for the stock somewhere around the $50 and $60 per share mark. He had earlier termed the company as a part of his “frauds of the modern era” list.

Meanwhile, TotalEnergies SE (NYSE:TTE) signed two agreements with Airbus, which would see the company supply over 3.3 TWh of electricity to the aircraft manufacturer’s major sites in Germany and the U.K.

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This article Peter Thiel’s Palantir Extends Partnership With Boeing Rival Airbus originally appeared on Benzinga.com