Palantir Technologies Inc. (NYSE:PLTR) shares are trading lower in the premarket session on Friday.
According to Benzinga Pro, PLTR stock has lost over 6.9% in the past five days. Despite the downturn, Palantir received an endorsement from Jim Cramer on April 12. Cathie Woods' Ark Invest purchased more than $475,000 of Palantir shares recently, deepening its investment in AI technology.
Investors can gain exposure to the stock via ProShares Big Data Refiners ETF (NYSE:DAT) and SoFi Social 50 ETF (NYSE:SFYF).
The software company has reportedly held meetings with agencies to present use cases for inventory and supply chain planning, programmatic sales, and campaign optimization, Marketing Brew reported.
Palantir's pitch encompasses a wide scope, with its platform capable of uncovering efficiencies and extracting insights from client data regarding an advertiser's audiences and customers, Marketing Brew reported.
The company is considering applications such as "supply-chain operations" and "customer service" as potential use cases, the report read.
In fact, a "leading broadcast network" with its own OTT platform employed Palantir to categorize its audiences into groups and monitor customer journeys, resulting in a 300% surge in engagement from a specific target group during one campaign, Marketing Brew said.
Earlier this month, Palantir inked a pact with Oracle Corporation (NYSE:ORCL) to provide secure cloud and AI solutions to power businesses and governments worldwide. Palantir will move Foundry workloads to Oracle Cloud Infrastructure as part of the agreement.
On April 17, the company announced that it had been designated as an 'Awardable' vendor for the Chief Digital and Artificial Intelligence Office's (CDAO) Tradewinds Solutions Marketplace.
Palantir said that the Department of Defense can now access two of the company's product offerings, including Palantir's AI Mission Command Capability and its Predictive Maintenance & Precision Sustainment Suite, through the Marketplace to support critical missions.
Price Action: PLTR shares are trading lower by 0.95% to $20.93 premarket on the last check Friday.
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