Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher premarket Tuesday. The company inked a multi-year, multi-million-dollar contract with Nebraska Medicine.

As per the deal, Palantir will utilize its Artificial Intelligence Platform (AIP) to enhance healthcare through transformative technologies.

Palantir and Nebraska Medicine began their collaboration in January 2024, with a shared mission to quickly address critical healthcare challenges.

Palantir plans to continue its partnership, aiding Nebraska Medicine by providing AI software for patient flow, nurse allocation, clinical supplies, and revenue cycle optimization.

The partnership will also expand Nebraska's Foundry Ontology and explore new opportunities in clinical research and care to improve patient outcomes.

Drew Goldstein, Co-Head of Healthcare at Palantir, stated, "Their swift commitment to this enterprise partnership highlights our shared focus on rapidly delivering value and driving impactful outcomes to enhance patient care."

Michael Ash, Nebraska Medicine president and chief operating officer, said, "The technology allows our staff to work smarter, and for more of our patients to leave the hospital as soon as they're able. Most exciting for us – this is just the beginning of the innovations we'll discover together and lead the way for other hospitals."

Last month, Palantir disclosed that it was named a leader in artificial intelligence (AI) and machine learning (ML) platforms.

Also, Palantir recently announced a strategic partnership with Sompo to enhance AI-driven solutions.

Investors can gain exposure to the stock via REX AI Equity Premium Income ETF (NASDAQ:AIPI) and Spinnaker ETF Series Tuttle Capital Self Defense Index ETF (BATS:GUNZ).

Price Action: PLTR shares are up 2.2% at $37.11 premarket at the last check Tuesday.