Palantirs stock is soaring after President Donald Trump announced his administration would give the company an infusion of $250 million, according to a report on Friday.
The Wall Street Journal said the move is the largest gift to an American company in Trump’s first year in office.
The stock hit a record high of $24.25 a share on Friday, a record for the S&P 500.
Palantires stock soared nearly 1,000% on Wednesday after the Trump administration approved a $5 billion grant to expand Palantiris’ data analytics business.
Palatir, a software company founded by billionaire Elon Musk, has been a darling of the tech industry, with many of its technologies, including facial recognition technology, used in some of the biggest games, such as Call of Duty: Advanced Warfare and Star Wars: Battlefront.
Palatiys stock has been gaining on investors in recent months, driven in part by Musk’s continued bullish stance on the stock.
The tech giant’s stock is up about 16% this year, according a proxy tracker.
In January, Palantides shares soared nearly 3,000%.
The company has been accused of violating antitrust laws by allegedly conspiring to buy rival Facebook.
Palanteys shares have fallen nearly 70% in 2017.
Palanti’s shares are down more than 15% this week, and the company’s stock has fallen nearly 10% in the past year.
Palanto shares have been hammered by allegations of a sexual harassment scandal involving CEO Michael Krawczynski.
The company recently said it was closing a $2.5 million investigation into allegations of sexual harassment.
In addition to Palantire, Palanti has a presence in cybersecurity and data analytics, according the WSJ report.
Palantis CEO and co-founder Anthony Palanti, left, and CEO Michael Palanti at the company in May 2017.
Palantir has received a $25 million grant from the Department of Defense.
The Department of the Army is funding research on algorithms to help troops better manage the battlefield.