- According to a Bloomberg News report, citing people familiar with the matter, Lumen has committed to investing over $200 million in Palantir's software for several years.
- The deal is an attempt by Lumen to support more AI services and for Palantir to reach more customers, the report added.
- It noted that Lumen has been looking to move away from a traditional telecommunications provider to a more technology infrastructure company.
Palantir Technologies (PLTR) is reportedly set to provide artificial intelligence (AI) software to Lumen Technologies (LUMN) as part of a new collaboration and an attempt by the latter to support more AI services.
According to a Bloomberg News report, citing people familiar with the matter, Lumen has committed to investing over $200 million in Palantir's software for several years. The report added that this is an effort by Palantir to reach more customers.
Executives Take On The Deal
The report noted that Lumen has been looking to move away from a traditional telecommunications provider to a more technology infrastructure company.
The deal represents “Palantir helping us with our transformation, and as part of that, going to market together and driving the same for our joint customers,” said Lumen Chief Executive Officer Kate Johnson.
Palantir CEO Alex Karp told Bloomberg that the partnership will be about “accelerating the transformation, and making lots of money.”
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