Shares of Palantir Technologies Inc. PLTR,
skyrocketed 10.9% in pre-market trading on Monday after the big data software company announced a partnership with International Business Machines Corp. IBM,
in open business artificial intelligence applications. IBM shares were up 0.9% before opening. Companies will use IBM’s hybrid cloud data platform and Palantir’s operations platform to create applications to launch Palantir for IBM Cloud Pak for Data, which will be available in March 2021. The recovery of Palantir’s shares occurs after down 3.2% last week, to take advantage of a four-week string of gains in which stocks soared 49.4%. Shares soared 146.2% in the last three months through Friday, while IBM shares rose 6.8% and the S&P 500 SPX,
advanced 10.8%.
