Palantir Technologies $PLTR Expands Into South Korea

Get Email Alerts and Follow Us:
SOCIALICON

PLTR stock rose in pre-market trading on January 5, 2022, after the company announced expanded business in South Korea.

Palantir Technologies to Expand in South Korea

On January 5, 2022, Hyundai Heavy Industries (HHI) Group and Palantir Technologies Inc. (Palantir, NYSE: PLTR), a leading builder of operating systems for the modern enterprise, announced that they will collaborate to build a big data platform for HHI’s core businesses, including shipbuilding and offshore engineering. The two parties will also consider establishing a joint venture to promote the big data platform business in the mid- to long-term.

HHI Group and Palantir signed a memorandum of understanding on January 4 for the establishment of the big data platform and a joint venture. The signing event was held in a hybrid online and offline format one day before “CES 2022” and was attended by Kisun Chung, CEO of Hyundai Heavy Industries Holdings; Young-cheul Cho, CEO of Hyundai Doosan Infracore; Seok Cho, CEO of Hyundai Electric; as well as chief executives from Palantir Technologies.

Based on the agreement, HHI Group and Palantir will jointly build a big data platform for the Group’s key affiliates related to shipbuilding & offshore engineering, energy, and industrial machinery. HHI Group will provide the affiliates’ process expertise and sales know-how whereas Palantir will offer software and development personnel.

Once the big data platform for each affiliate is built, the two parties plan to create a joint venture that specializes in developing and selling big data platform services. Based on the accumulated achievements, the joint venture will commercialize big data solutions from platform construction to operation to generate sales targeting domestic and foreign companies.

Hyundai Heavy Industries, a shipbuilding and offshore engineering affiliate of HHI Group, is working on the “Future of Shipyard (FOS)” project to transform itself into a smart shipyard, the first of its kind in the world, by 2030. All processes from design to production are connected in real time to build a shipyard that enables smart work management where Palantir’s Foundry data platform is applied.

The big data platform will also be adopted by energy affiliates, such as Hyundai Oilbank. The energy company plans to build a platform at its plant in Daesan, South Chungcheong Province, South Korea, for five years from this year with a strategy to maximize process efficiency by integrating more than 100 production management systems into one.

Hyundai Doosan Infracore, an affiliate of industrial machinery, already developed “DI 360,” a big data collaboration platform, with Palantir Technologies in 2019, and is currently using it to manage its parts supply chain, handle on-site quality claim issues, and seize sales opportunities. HHI Group and Palantir Technologies are also planning to consider building a platform for other affiliates, such as Hyundai Construction Equipment.

Kisun Chung, CEO of Hyundai Heavy Industries Holdings, said, “We expect that this partnership with Palantir Technologies will substantially improve the competitiveness of core businesses of the Group. It will be an important turning point in innovation of organizational culture that changes the way we work using data.”

“HHI Group shaped one of the most significant industries of the twentieth century and is absolutely vital to the lives we lead,” said Alexander C. Karp, co-founder and chief executive officer of Palantir Technologies Inc. “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 and security.”

Bullish Option Flow In PLTR Stock

Bullish option flow has been detected in PLTR stock between January 3 – 5, 2022.

Pltr Option Flow

Make sure to review this lesson on option flow so that you understand the image above.

Palantir and Dewpoint Therapeutics Announce Strategic Partnership

On December 20, 2021, Palantir Technologies Inc. (NYSE: PLTR) and Dewpoint Therapeutics, the leading biomolecular condensates company, announced a partnership for Palantir’s Foundry platform to help power Dewpoint’s efforts to discover treatments and cures for the most challenging diseases.

Palantir Foundry will help to enable researchers at Dewpoint to further their understanding of condensates biology by analyzing lab data along with other data sources, including data from the published literature and databases, to identify new compounds and therapeutic approaches.

Dewpoint will also use Foundry as the primary platform for its centralized knowledge repository, helping it contextualize its experimental results and prioritize the most viable outcomes. This multi-year agreement marks one of Palantir’s most comprehensive partnerships with a biotechnology company.

Palantir Foundry is designed to integrate disparate and siloed information sources to lead to data-driven analysis and decision-making. It allows users to track lineage across systems, making it particularly suited for work in life sciences and the biotechnology sector, where data sources come from several unique and separate systems.

At Dewpoint, Foundry will be able to work seamlessly with the existing systems in its laboratories to provide researchers with a comprehensive foundation for exploration and analysis.

“We think Dewpoint is changing the way the world approaches drug design by exploring new frontiers of disease biology, requiring a game-changing solution that goes beyond just cloud and infrastructure to drive their R&D and scale with their vision as they grow,” said Lalarukh Haris Shaikh, Palantir’s Head of Biotech. “We are proud to partner with Dewpoint and share their passion of working on one of the most exciting translational medicine approaches of our time.”

Foundry will help researchers make decisions around compound and target viability and streamline experiments and automate analysis by creating a digital twin of the research environment. One concrete example of Foundry’s use at Dewpoint Therapeutics is the expansion of the data foundation to include advanced genetic analysis for disease association and correlation with condensate content, empowering future discoveries.

“Key to our approach has been creating a seamless connection between our wet-lab and dry-lab capabilities, with machine learning and AI at the center. Foundry has provided us with a solid foundation for us to fully connect and operationalize our entire lab to enterprise and enable the discovery and development of new drugs,” said Dewpoint CEO Ameet Nathwani.

📺 Palantir And Its Data-Mining Empire

How Palantir And Its Data-Mining Empire Became So Controversial

📉 PLTR Stock Technical Analysis

Pltr Stock

Both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. PLTR is an average performer in the Software industry, it outperforms 41% of 348 stocks in the same industry. PLTR is currently trading near the lower end of its 52-week range, which is not a good sign considering that the S&P500 Index is trading near new 52 week highs at the moment. PLTR is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.

There is a support zone ranging from 17.96 to 18.16. This zone is formed by a combination of multiple trend lines in multiple time frames. There is a resistance zone ranging from 19.06 to 19.06. This zone is formed by a combination of multiple trend lines in multiple time frames.

Although the technical rating is bad, PLTR does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 19.06. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 18.16, a Stop Loss order could be placed below this zone.

Get Email Alerts and Follow Us:
SOCIALICON