Palantir’s stock gains after new contract with the U.K.’s NHS could be valued at over $31 million

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Shares of Palantir Technologies Inc.

rose 0.8% in premarket trading Wednesday, after the big-data software company said it signed a new two-year contract with the U.K.’s National Health Service. The contract could be valued at up to GBP23.5 million ($31.6 million). The company said the NHS will use Palantir Foundry to understand how COVID-19 spreads and identify risks to particular populations, increase health and care resources in emerging hot spots, supply equipment to to the facilities with the greatest need and divert patients and service users to facilities best able to respond. Palantir’s stock has rocketed 195.2% since it closed at $9.50 on its first day of trading on Sept. 30, while the S&P 500

has gained 9.6% over the same time.

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