Palantir Technologies (PLTR) stock was down sharply in Friday’s early premarket session despite the U.S. Army announcing a new enterprise agreement with the Alex Karp-led company. The release from the U.

Palantir Technologies ( NASDAQ: PLTR) has secured a major deal from the U.S. Army worth up to $10B over the next decade, which establishes a framework for the Army's future software and data needs.

The U.S. Army on Thursday said it was consolidating dozens of contracts into a single enterprise deal with Palantir , giving it volume-based discounts and the option to purchase up to $10 billion from the software provider over 10 years.