Palantir announces strategic partnership with Cloudflare focused on cloud cost optimisation

DENVER /PRNewswire/ – Palantir Technologies Inc. (NYSE: PLTR) today announced a strategic partnership with Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better internet, to help organisations cut cloud costs, increase control, and improve predictability over multi-cloud workloads. 

Understanding cloud spend is complex, especially in environments where customers use multiple cloud vendors. As organisations transition more of their workloads to the cloud, the complexity and costs of these workloads have increased. What's more, organisations often struggle to achieve granular visibility over their cloud spend or, increasingly, an ability to easily manage cloud costs. Internal stakeholders ranging from finance executives to infrastructure engineers need to securely collaborate on optimisations and analyses to create lasting cloud efficiencies.

"Stitching together a patchwork of cloud contracts and evaluating them across teams, workflows, and internal stakeholders is fundamentally a data integration challenge," said Shyam Sankar, COO of Palantir. "Our partnership with Cloudflare provides an avenue for Palantir Foundry to drive down multi-cloud costs, Palantir Apollo to reduce the burden on DevOps and improve customers' gross margins, and Cloudflare to provide a modern cloud architecture that doesn't restrict customer choice and delivers meaningful cost savings."

This strategic partnership will provide organisations with the ability to quickly generate meaningful cost savings from their existing cloud bills and transition to a more cost-efficient cloud infrastructure for the long-term.

Within 24 hours of data connection, customers can leverage pre-built infrastructure in Palantir Foundry to understand their current cloud costs: integrating data from across cloud vendors, mapping to the internal ontology that governs different business units and attribution factors, and identifying internal opportunities for more efficient work, including potential migrations to Cloudflare. These migrations, particularly valuable for organisations with high volumes of data egress, can enable customers to distribute data and execute high-compute and other workflows quicker, cheaper, and at a greater scale than traditional cloud vendors—all while remaining cloud-agnostic. By leveraging Cloudflare's Workers Platform and R2 Storage solution, customers from the largest enterprises to small businesses are further enabled to build, deploy, and manage their workloads seamlessly, at global scale, and with greater flexibility and cost efficiency.

"Today's modern application stacks are a collection of many services running on different clouds. Legacy cloud providers shackle customers with restrictive pricing models, making it untenable to use multiple cloud vendors or switch providers," said Dane Knecht, SVP of Emerging Technology & Incubation at Cloudflare. "Cloudflare's Workers Developer Platform and R2 Storage give developers a flexible, cost efficient development platform with massive scale. Unlike other cloud vendors that lock customers in with high egress fees, Cloudflare doesn't charge for egress. We are redefining the standard of how developers work with object storage, allowing them to focus on innovation, rather than the costs of accessing their data. We're excited to work with Palantir to bring greater visibility to customers around their cloud spend and solutions on how to reduce it."