By Dhirendra Tripathi

Investing.com – Palantir stock (NYSE:) rose 5% Tuesday as the company sealed a joint venture with Germany’s Merck KGaA to optimize data mining for servicing the semiconductor industry.

To avoid any confusion with an unaffiliated pharmaceutical firm of the same name, this Merck is based in Darmstadt and uses EMD Electronics as its North American electronics company. According to Reuters the joint venture Athinia would be housed in an EMD Digital Merck KGaA subsidiary, separate from the electronics company.

Merck supplies chemical ingredients that are used in chip production. Merck released that the Athinia platform uses artificial intelligence and big-data to address problems such as shortages in chip production, increase quality, transparency and speed to market.

Athinia is a platform that will allow semiconductor suppliers and manufacturers to come together and share data. This can be difficult in an industry where many firms are reluctant to divulge trade secrets. A release stated that the platform would allow industry players to gain a better understanding of the interplay between semiconductor fabrication processes and the materials they use.

In the midst of a boom in cloud services, computers, and other electronic gadgets to connect our lives, this joint venture was formed. Technology is also a key component of cars, increasing the demand for chips.