Palantir reported its fourth-quarter earnings, with revenue increasing 20% year over year to $608.4 million. The company’s CEO, Alex Karp, stated in a shareholder letter that demand for large language models in the U.S. remains strong. Following the earnings report, Palantir shares surged more than 19% in after-hours trading. The company’s full-year guidance for 2024 is in line with expectations. Palantir’s net income for the quarter was $93.4 million, compared to $30.9 million in the same period last year. The company has been focusing on expanding its Artificial Intelligence Platform and has seen significant growth in demand.
