Oracle and Palantir announced on Thursday that they have entered into a global partnership to market joint cloud and AI offerings to government and enterprise customers.

Under the terms of the agreement, Palantir intends to transfer workloads associated with its Foundry data integration platform to Oracle's cloud infrastructure.

At the same time, the predictive analytics specialist intends to enable its new Gotham (decision support) and AI (artificial intelligence) platforms to be deployed on Oracle's distributed cloud services.

On the New York Stock Exchange, Palantir shares rose by more than 2% following the announcement, while Oracle shares gained around 0.7%.

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