Palantir (NYSE: PLTR) announced Tuesday morning that it will be providing additional services to 3M (NYSE: MMM) as part of a new, multimillion-dollar deal. The industrials giant will be expanding its use of Palantir's Foundry analytics platform as part of an effort to improve supply chain operations. 3M management stated that Foundry services had helped it monitor and adapt to demand changes across its product categories amid the pandemic, and it looks like Palantir will play a significant role in the company's ongoing digital transformation. Winning an expanded contract with 3M bodes well for the analytics software company. Image source: Getty Images. Palantir has been a hotly contested stock since going public last September. The tech stock is up roughly 180% from its $10 opening price even after a recent pullback, and investors and analysts remain split on whether the current valuation is justified. Bears have pointed to the company's reliance on government contracts as an indication that its current growth will be difficult to maintain, with this segment currently accounting for roughly three quarters of its sales. On the other hand, Palantir has been aiming to build its business in the commercial space by breaking down components of its Foundry analytics platform into smaller, less costly offerings. It seems to be making progress with that approach. In addition to deepening its working relationship with 3M, the company recently announced a partnership with IBM, and previously won deals with companies including BP, Rio Tinto, and PG&E. While debate about Palantir's growth-dependent valuation is unlikely to be resolved in the near future, winning increasing support from commercial customers reflects well on the efficacy of the company's Foundry analytics platform 10 stocks we like better than Palantir Technologies Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Palantir Technologies Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool owns shares of Palantir Technologies Inc. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy.Source