Palantir reported results after the market close on Monday, and to say it crushed expectations might be an understatement. Not only did the company easily surpass estimates, but management's guidance suggests its growth will continue to accelerate.

Palantir Technologies saw its shares soar over 15% in after-hours trading on Monday after the company posted stronger-than-expected fourth-quarter earnings and revenue, fueled by its expanding artificial intelligence capabilities and growing demand from both government and commercial clients.

Palantir Technologies Inc. shares jumped after the company gave a full-year revenue forecast that exceeded analysts’ estimates, thanks to what Chief Executive Officer Alex Karp described as “untamed organic growth” in demand for its artificial intelligence software.

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.

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.