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Investing.com -- Planet Labs PBC (NYSE:PL) stock rose 7% after the company announced it had secured a new seven-figure contract with NATO to provide advanced daily monitoring and intelligence capabilities.
The contract will see Planet Labs deliver a specialized platform solution that combines its PlanetScope Broad Area Monitoring technology with advanced Artificial Intelligence (AI) and Machine Learning (ML) analytics. This solution will provide NATO with persistent space-based surveillance, enhanced early warning capabilities, and Maritime Domain Awareness functions.
The partnership comes at a time when European nations are rapidly enhancing their defense capabilities in response to evolving geopolitical dynamics. Planet Labs’ technology will allow NATO to shift from reactive, target-centric surveillance to proactive, broad-area anomaly detection.
"Our partnership with Planet, harnessing their Broad Area Monitoring technology combined with AI and ML analytics, is a significant stride for NATO," said Admiral Pierre Vandier, Supreme Allied Commander Transformation. The admiral added that the integration of Planet’s satellite data and insights is "vital for strengthening our global awareness and rapidly addressing complex security challenges at speed."
Planet Labs CEO Will Marshall highlighted the company’s unique position to meet growing market demand for comprehensive, broad area intelligence expertise in the current geopolitical landscape.
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