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Investing.com — On Wednesday, Palantir Technologies Inc (NYSE:PLTR) and Hyundai Heavy Industries (HHI) announced a collaboration to build a big data platform for HHI’s core businesses.
HHI and Palantir build a big data platform for key affiliates related to shipbuilding and offshore engineering, energy and industrial machinery.
In addition, Palantir said the collaboration will help it expand its product in South Korea.
The two parties have also considered establishing a joint venture, helping promote the new platform in the mid- to long-term.
HHI will provide the affiliate’s process expertise and sales knowledge, while Palantir will provide its software and development personnel to expand into the new market.
Once the platform is built, the companies will create a joint venture specializing in developing and selling big data platform services.
“We are deeply grateful for the opportunity to partner with a company that is not only a leader among the world’s industrial giants but one whose continued growth and success are critical to our collective welfare,” said Alexander Karp, co-founder and CEO of Palantir.
Palantir shares are currently down 1.65%.
