Palantir, Hyundai Collaborate In A Deal Worth Over $25M

• Palantir Technologies Inc (NYSE:PLTR) looks to build a new big data platform with South Korea’s Hyundai Heavy Industries Group.
• Hyundai Heavy will use Palantir’s data analysis software to improve the way its affiliate groups operate in fields including shipbuilding, offshore engineering, and energy and industrial machinery processes. 
• The multi-year deal is worth over $25 million, Bloomberg reports. 
• Once they build the platform, the companies will create a joint venture to commercialize the new tools. 
• COO Shyam Sankar said the project represented a new model, allowing customers to only pay for what they use, and exercise more control over the process. 
• Price Action: PLTR shares traded lower by 0.63% at $18.06 on the last check Wednesday.