Palantir stock climbs after IBM’s partnership on AI offering for businesses

Shares of Palantir Technologies Inc. PLTR,
+ 6.24%
jumped 10.9% in pre-market trading on Monday, after announcing a partnership with International Business Machines Corp. IBM, the Big Data software publisher
+ 0.64%
on open artificial intelligence applications for businesses. IBM stock gained 0.9% before the opening. Companies will use IBM’s hybrid cloud data platform and Palantir’s operating platform to build applications to launch the Palantir for IBM Cloud Pak for Data, which will be available in March 2021. The stock rally de Palantir comes after falling 3.2% last week, for a four-week streak in which the stock climbed 49.4%. The stock has climbed 146.2% in the last three months to Friday, while IBM stocks are up 6.8% and the S&P 500 SPX,
+ 0.39%
increased by 10.8%.