Investing.com– Palantir Applied sciences Inc (NASDAQ:) is in discussions to spend money on Defend AI, because the drone startup was set to almost double its valuation to $5 billion in a brand new fundraising spherical, The Info reported on Friday citing sources.
This potential funding aligns with Palantir’s strategic give attention to enhancing its synthetic intelligence (AI) capabilities inside the protection sector.
The San Diego-based startup, which develops AI-driven software program for autonomous drones and plane, is within the strategy of elevating roughly $200 million. The funding is predicted to come back from protection and aerospace corporations, together with Palantir, Airbus Group SE (EPA:), and L3Harris Applied sciences Inc (NYSE:), Monetary Occasions reported on Friday citing sources accustomed to the matter.
Enterprise capital corporations resembling Andreessen Horowitz, Point72, and Riot Ventures are additionally anticipated to participate, the FT report famous.
As of now, Palantir has not publicly commented on these discussions, and additional particulars concerning the potential funding stay undisclosed, the experiences said.