Palantir Stock Gains on FAA Artificial-Intelligence Rollout
Palantir Technologies Inc. (NASDAQ: PLTR) shares rose 3.68% on Wednesday after Rosenblatt Securities reiterated a 'Buy' rating and $225 price target, citing the Federal Aviation Administration's artificial-intelligence rollout and Palantir's existing work within the agency.
The stock closed at $191.79 on September 23, up $6.80 from the prior session, after trading between $182.95 and $193.79. Volume was about 34.9 million shares, below Yahoo Finance's average of roughly 38.4 million. The S&P 500 fell 0.75%, and the Nasdaq Composite declined 1.13% during the session.
The FAA's flagship Flow Management Data and Services (FMDS) contract, which includes the Strategic Management of Airspace, Routes, and Trajectories system known as SMART, was awarded to Air Space Intelligence, not Palantir. The FAA selected Air Space Intelligence in June, and Reuters reported the contract is worth up to approximately $875 million over 12 years.
However, federal award records show the FAA issued Palantir a $500,000 firm-fixed-price purchase order on August 13, 2026, described as 'SMART, PALANTIR PURCHASE ORDER' under PIID 693KA726P00024. The records list a performance period from August 13 to August 14 but do not disclose the order's technical scope.
Palantir is tied to a separate FAA Logistics Center procurement covering Foundry licenses, cores, and technical services. Procurement documentation describes an estimated six-month period of performance for that requirement.