Palantir Technologies posted a big beat with its fourth-quarter results on Monday afternoon. Shares soared in after-hours trading. Earnings per share were up annually by 75% to 14 cents, compared with Wall Street’s consensus estimate of 11 cents,

Palantir bet on software that allows companies to deploy large-language models in a practical sense, and management says that’s paying off big time.

Palantir Technologies reported strong revenue growth last quarter as the company that made its name providing software to the U.S. government said demand for its artificial intelligence products continues to expand.