AsianFin -- Boeing shares rose 2% Tuesday, in which seeing the major market index S&P 500 dipped 0.55% from its record close set a day earlier. Shares outperformed the U.S. stock market after Boeing announced a partnership with Palantir for artificial intelligence (AI) adoption and a U.S. diplomat floated a “huge order” from China.
Credit：Boeing
Boeing and Palantir on Tuesday said they are working together to AI systems and software across Boeing Defense, Space & Security (BDS) factories and programs. BDS will leverage Palantir's Foundry platform, which leverages AI to unify complex and disparate systems under a streamlined and intuitive user interface. BDS operates more than a dozen major production lines manufacturing military aircraft, helicopters, satellites, spacecraft, missiles and weapons.
The partnership between BDS and Palantir, with an aim to acclerate AI adoptioin across defense, classified programs, will help standardize data analytics and insights across its geographically dispersed family of defense factories. BDS also has tapped Palantir to provide AI expertise and capabilities on a number of undisclosed classified and proprietary efforts focused on supporting military customers' most sensitive missions.
Co-founded by its CEO Alex Karp and billionaire Peter Thiel in 2003, Palantir is well known for its work with the U.S. Department of Defense and allied countries. Its AI-powered software, which organizes and analyzes data, is also used by commercial customers across health, finance, pharmaceutical and other sectors.
Tuesday also witnessed a potential aircraft sale to China. David Perdue, the U.S. ambassador to China, said he thinks negotiations over a possible deal involving Boeing and China are likely in their “final” days or weeks.
“This is a huge order, and it's very important to the president, very important to Boeing,” Perdue told reporters during a news conference alongside a U.S. House delegation visiting Beijing. While Perdue didn’t provide details on the pending transaction, Bloomberg last month reported Boeing is in discussions to sell as many as 500 jets to China, and two sides are still working out the details, including the number and kinds of aircrafts invovled. Chinese officials have reportedly begun asking local airlines how many planes they want.
The sale, if materializes, would be a breakthrough for Boeing, which has only made a handful of sales to Chinese carriers over the past few years, according to the report. The sale would also be a key element for a potential trade deal that has been in the works between the Trump administraion and Beijing.
Boeing and Uzbekistan Airways on Monday disclosed the single largest order in the airline’s history as it plans to acquire up to 22,787 Boeing’s Dreamliner jets. Uzbekistan Airways' purchase of 14 787-9 airplanes, with options for eight more of the ultra-efficient jets, will modernize its Boeing widebody fleet while supporting nearly 35,000 U.S. jobs. Boeing and the Uzbekistan Ministry of Transport also signed a Memorandum of Cooperation to explore opportunities to further expand the country's aviation ecosystem.
Boeing received an order from Uzbekistan Airways worth more than $8 billion, U.S. President Donald Trump posted on his social media Truth Social Monday evening following a conversation with Uzbekistan President Shakat Mirziyoyev. Boeing declined to comment on the post.
