US Army pools contracts into up to $10 billion Palantir deal

The U.S. Army on Thursday said it was consolidating dozens of contracts into a single enterprise deal with Palantir, giving it volume-based discounts and the option to purchase up to $10 billion from the software provider over 10 years.

The deal does not commit the Army to any new purchases, it said in a press release.

The Army said the goal of this consolidation was to shorten procurement timelines and remove contract-related fees so it can deploy data integration and artificial intelligence tools faster.

(Reporting By Jeffrey Dastin in San Francisco; Editing by Chris Reese)