Palantir SPAC Black Sky Awarded $241M Contract

Palantir SPAC Black Sky was up 43% yesterday on the news that it recieved a 5-Year, $241M contract.

From the press release,

"BlackSky Technologies Inc. (NYSE: BKSY) was awarded a basic order agreement from the Joint Artificial Intelligence Center (JAIC) to create and optimize data sets for use in DoD AI models and applications. The JAIC agreement has a ceiling value of $241 million over five years.

With demonstrated AI expertise in space-based dynamic monitoring, this agreement will open even more doors for BlackSky to contribute its unique value to the diverse national security challenges faced by the wider DoD community,” said Patrick O’Neil, BlackSky chief innovation officer.

“From automatically tasking satellites to the low-latency delivery and analysis of high-frequency geospatial imagery and non-imagery data, our unique, data-rich platform brings a strong source of core AI-enabled end-to-end capabilities to the DoD’s mission sets,” said O’Neil.

The JAIC, Defense Digital Service, and Office of Advancing Analytics were merged into a single organization called the Office of the Chief Digital and Artificial Intelligence Officer."

The Palantir SPAC thesis has always been to give Foundry to some of the most unique startups on the planet and see how they can use the product to scale their own businesses, essentially serving as a use case for Foundry within emerging industries.

If you want to understand more about the SPAC thesis, you can read this.

To learn more about Black Sky, which I have dubbed a "Google Earth" on steroids, you can watch this:

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