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Fortune
Fortune
Jason Ma

SpaceX and Palantir now have bigger valuations than top aerospace-defense stocks as the military eyes transformation

(Credit: Chandan Khanna—AFP via Getty Images)

In a sign of the changing outlook for the defense industry, data-mining software company Palantir Technologies recently surpassed Pentagon contractor and aerospace supplier RTX in market cap.

Shares of Palantir, which offers AI-powered platforms to military, civilian and corporate customers, have soared 345% this year, giving the company a valuation of $174 billion at Friday's market close.

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