Palantir to expand to South Korea through collaboration with Hyundai Heavy Industries
7:13 am ET January 5, 2022 (MarketWatch)
Palantir Technologies Inc. (PLTR) announced Wednesday plans to expand to South Korea, as it collaborates with Hyundai Heavy Industries Group to build a bid data platform Hyundai's businesses, including shipbuilding and offshore engineering. The companies are also considering a joint venture to promote the big data platform business. Palantir's stock edged down 0.1% in premarket trading. "We are deeply grateful for the opportunity to partner with a company that is not only a leader among the world's industrial giants but one whose continued growth and success are critical to our collective welfare and security," said Palantir Chief Executive Alexander Karp. Palantir's stock has dropped 21.7% over the past three months, while the SPDR S&P Software & Services ETF (XSW) has lost 4.6% and the S&P 500 has gained 10.3%.
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