Palantir Slips After Winning U.K. National Health Service Contract

Shares of data analytics company Palantir Technologies fell during midday trade, causing a minor setback in what has otherwise been a period of significant share-price gains. The drop comes after Palantir secured a contract with Britain’s National Health Service (NHS) to develop a data platform. The announcement of this seven-year, $414 million contract had been anticipated for weeks, with Palantir being widely favored despite concerns from citizens, advocacy groups, and doctors regarding the transparency of the contract-award process and the privacy of patient data. In a blog post announcing the award, the company addresses these concerns by stating, “Palantir is not, and never has been, in the business of collecting, mining, or selling data.”

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