Palantir Technologies Inc. [NYSE: PLTR] disclosed that it has decided to further expand its relationship with 3M. The firm has selected 3M as its partner to establish a dynamic supply chain because 3M has always been in the leading position in bringing digital revolution. Both the firms will collaborate to extend the supply chain to respond to the changes in the complex world.
3M has selected to extend its use of Palantir’s Foundry platform to provide support for its digital revolution. Currently, the world is facing a pandemic and firms have also experienced changes in the demands of their products. To address the needs of customers, the Foundry platform will allow 3M to react quickly and efficiently.
Shares of Palantir Technologies Inc. [NYSE: PLTR] plummeted 3.45% during the trading session of Monday. The firm has recorded a difference of 214.61% and -37.78% from its 52-week low and high range. Focusing on the liquidity of Palantir, it has a current ratio of 2.50. Palantir Technologies has a total market capitalization of 42.34 billion at the time of writing.
This growing relationship is based on the work that Palantir already backed 3M supply chain alerts, demand predictions, and business planning efforts. PLTR has played a very crucial role in the Enterprise Operations digital migration strategy of 3M. 3M disclosed that its main aim is to provide assistance to its customer.