Palantir Technologies and Satellogic announced on Monday that the geospatial firm will use Palantir's Foundry platform.

Palantir's stock is up more than 4% on Tuesday, while Satellogic's stock is down 5%.Palantir Announces “Double Click” Demo Event on April 14, 2021 | Business  Wire

The platform will be used by Satellogic, a company that specializes in Earth-observation satellites, to assist it to speed up business processes, picture product delivery, AI model training, and data integration.

Palantir's government and commercial customers will also have access to Satellogic's Aleph platform APIs, which will help them get more out of its MetaConstellation and Edge AI capabilities.

The agreement expands on an existing partnership between the two companies. Satellogic and Palantir collaborated last year to install and test Palantir's Edge AI platform onboard Satellogic's NewSat satellites.

"Palantir's Foundry's comprehensive capabilities will be critical in assisting Satellogic in realizing our objective to improve life on Earth through geospatial data," said Matthew Tirman, president of Satellogic North America.