Google-parent Alphabet's cloud computing unit has expanded its partnership with Palantir Technologies to target federal agencies with security-approved services, the companies said. Palantir stock rose on Thursday amid the news.
The expanded partnership includes FedRamp (Federal Risk and Authorization Management Program), a U.S. government program that ensures cloud computing services meet security standards. Google's cloud unit and Palantir had earlier targeted industry sectors such as retail, financial services and health care. Palantir sells data analytics software.
In a blog post published Wednesday, the companies said artificial intelligence training model developer Anthropic will make its products available to federal government agencies through Palantir FedStart and Google's cloud services.
"At launch, the first independent software vendor to use this new capability is Anthropic," said Leigh Palmer, vice president, Google Public Sector, in the blog post.
Palantir Stock Up 33% In 2025
Palmer added: "Google Cloud's secure and scalable infrastructure will ensure the reliable and responsible deployment of AI solutions for sensitive government use cases, as opposed to the inherent limitations of legacy GovClouds."
On the stock market today, Palantir stock gained 1% to 101.70. Google stock rose a fraction to 155.64. Palantir stock has gained 33% in 2025 while Google stock has retreated 18%.
Alphabet reports first quarter earnings after the market close on Thursday. Palantir earnings are due May 5.
Palantir has provided data analytics tools to government customers for intelligence gathering, counterterrorism and military purposes. Now Palantir aims to use generative AI to spur growth in the U.S. commercial market, such as health care and financial services.
Meanwhile, Google's cloud unit announced new artificial intelligence initiatives at its annual event.
Further, Palantir has won a $30 million contract from the U.S. Immigration and Customs Enforcement (ICE) agency, according to federal filings as well as a new deal at the Internal Revenue Service, a recent report said.
Palantir Stock: Technical Rating
In addition, Palantir stock hit its all-time intraday high of 125.41 on Feb. 19. Shares have retreated nearly 20% from that high.
Palantir stock advanced 340% in 2024, with much of the gain coming after Donald Trump's Presidential election win.
PLTR stock holds an Accumulation/Distribution Rating of B. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading. A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
