Palantir, Merck partner to tackle chip shortage
Dec. 07, 2021 9:07 AM ETPalantir Technologies Inc. (PLTR), MKGAF, MKKGYBy: Preeti Singh, SA News Editor57 Comments
- Palantir Technologies (NYSE:PLTR) and Merck (OTCPK:MKGAF) (OTCPK:MKKGY) have joined forces to provide a collaborative data analytics platform for the semiconductor industry.
- The Athinia platform will use artificial intelligence (AI) and big data to address challenges such as semiconductor chip shortages, supply chain transparency, time-to-market and product quality.
- The partnership will be led by Laura Matz, Chief Science and Technology Officer of Merck. It will bring together semiconductor manufacturers and materials suppliers to share, aggregate, and analyze data.
- The platform will also offer deeper insights into materials and processes at semiconductor fabrication plants.
- Kai Beckmann, Member of the Executive Board of Merck and CEO Electronics, said: "Partnering with Palantir, we've combined our collective expertise in materials science, data analytics and security to increase our customers' efficiencies and time to innovation."
- Shyam Sankar, Chief Operating Officer of Palantir, added: "Athinia will help companies across the value chain bring new products to market faster and accelerate their product differentiation and growth."
- Merck and Palantir have been collaborating since 2017. Their Syntropy partnership looked at intuitive analytics techniques for biomedical data from disparate sources to accelerate cancer therapy and research.
- PLTR shares +3.09% pre-market.
- Palantir reported Q3 revenue of $392M (+35.5% Y/Y), while billings surged 56% Y/Y to $347M. The company expects FY21 revenue growth of 40% to $1.527B (consensus: $1.53B).
- Last week, Palantir Technologies won an additional $43M contract from Space Systems Command.
- Read a recent bullish analysis on PLTR.