- Palantir Technologies Inc. (NYSE: PLTR) announced a new one-year extended partnership with Ferrari (NYSE: RACE) to bring its data and analytics technology to Scuderia Ferrari. These are the details.
Palantir Technologies Inc. (NYSE: PLTR) — a leading builder of operating systems for the modern enterprise — announced a new one-year extended partnership with Ferrari (NYSE: RACE) to bring its world-class data and analytics technology to Scuderia Ferrari. And Scuderia Ferrari is continuing to use Palantir’s Foundry platform to propel data-driven performance decisions across the team’s Power Unit, Palantir will become an official Team Partner of Scuderia Ferrari, significantly expanding its past relationship.
Scuderia Ferrari’s Power Unit department ensures that the race cars deliver optimal performance without exceeding their structural capabilities. And Foundry will enable power unit engineers on the racetrack and in the Maranello Factory to optimize performance, and rapidly analyze data from sources such as Grand Prix data, test bench results, and part information.
Since 2016, Scuderia Ferrari used the Foundry platform to help their technical teams make faster data-driven decisions around car performance, development, and reliability. And in this new, expanded agreement, Scuderia Ferrari Power Unit engineers will use the Foundry platform to rapidly integrate and analyze large volumes of information from a wide array of sources to allow team members to swiftly make critical decisions and instantly share their analyses across the organization.
A typical Formula 1 race season can often generate as much as 1.5 trillion data points. And this information needs to be quickly integrated and tested to confirm hypotheses for the team to make adjustments during the race itself in response to the component performance, track conditions, weather, maintenance requirements, and potential part failures.
As part of the partnership, the Palantir brand will be featured on the Scuderia Ferrari Formula 1 race cars and on Charles Leclerc and Carlos Sainz’s driver race suits.
KEY QUOTES:
“We are pleased to be extending and expanding our partnership with Palantir, with whom we share common values of relentlessly pursuing technological innovation and the desire to continually improve. Data analysis plays a vital role in Formula 1 and being able to count on an excellent partner such as Palantir can make all the difference. Tasks that just a few years ago would take several minutes of calculation can now be carried out in a few seconds, thanks to solutions that have been in use through this partnership.”
— Mattia Binotto, Team Principal and Managing Director for Scuderia Ferrari
“Scuderia Ferrari and Palantir share a commitment to operational excellence. What they have accomplished as a company and a team is legendary. We look forward to continuing to work alongside Scuderia Ferrari, one of the most successful teams in the history of Formula 1 racing.”
— Palantir Executive Josh Harris
