Bill McColl
1 min read
In This Article:
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Palantir Technologies will team with nuclear power plant builder The Nuclear Company as artificial intelligence-related electricity demand soars.
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The companies will co-develop and deploy software designed to speed up construction of new plants.
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President Donald Trump has called for more nuclear power to make sure the U.S. is the world's leader in artificial intelligence.
Palantir Technologies (PLTR) shares rose to a record high Thursday as the data integration software maker struck a deal with a big nuclear power plant builder, taking advantage of the soaring demand for electricity to drive artificial intelligence data centers.
The company announced a strategic partnership with The Nuclear Company, which it calls the "leading gigawatt-scale deployment of nuclear power across America and pioneering the modernization of nuclear construction."
The deal calls for the firms to "co-develop and deploy NOS, the first AI-driven, real-time software system built exclusively for nuclear construction." NOS will be used to help The Nuclear Company build plants faster, safer, and at lower costs, Palantir said.
Shares of Palantir set an intraday record high above $148 on Thursday. They finished up nearly 1% to $144.25, a closing record. They are up more than 90% this year.
Mike Gallagher, Palantir's head of defense, said the agreement marked "the first time Palantir's software will be used to help power the next generation of nuclear energy infrastructure."
This article has been updated since it was first published to reflect closing share-price information.
Read the original article on Investopedia
