Why Palantir Stock Surged Today

Shares of Palantir Technologies (NYSE: PLTR) popped on Monday after the data analytics company announced a partnership with IBM (NYSE: IBM). As of 2:30 p.m. EST, Palantir's stock price was up more than 7% after rising as much as 15.2% earlier in the day.

Palantir will integrate its application-building tools with IBM's hybrid cloud platform. The collaboration is intended to help companies more easily create and implement artificial intelligence (AI)-powered apps that can help them make better use of their data. Palantir and IBM plan to launch the product in March.

Palantir and IBM are joining forces to bring the power of AI to more organizations. Image source: Getty Images.

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Source Fool.com