Pentagon awards $480 million deal to Palantir for 'Maven' prototype

Palantir logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Palantir has won a $480 million contract from the U.S. Department of Defense for a prototype known as the Maven Smart System, the department said on Wednesday, deepening the data analytics provider's work with the Pentagon.

The contract has an expected May 2029 completion date and follows the Defense Department's solicitation of a sole bid, it said.