Shares of Palantir Technologies ( PLTR 26.31%) charged out of the gate on Tuesday, spiking as much as 27.7%. As of 10:59 a.m. ET, the stock was still up 25.4%.

Palantir Technologies stock is trading at its highest level on record after the company posted a big beat with its fourth-quarter results. Earnings per share were up annually by 75% to 14 cents, compared with Wall Street’s consensus estimate for 11 cents,

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.

Key Takeaways Palantir Technologies shares soared to an all-time high Tuesday, a day after the company's outlook blew past analysts' expectations on strong demand for its Artificial Intelligence Platform.

What Happened? Shares of data-mining and analytics company Palantir (NYSE:PLTR) jumped 26.9% in the morning session after the company reported impressive fourth-quarter results, which blew past analysts' billings,

A woman walking past the Palantir Technologies logo during the World Economic Forum (WEF) annual meeting in Davos, Switzerland on January 19, 2023. Shares of software platform company Palantir (PLTR) soared close to 27% during Tuesday morning trading.

Palantir (PLTR) is one of the top-performing S&P 500 Index ($SPX) stocks, rising by an impressive 513% over the past year. This notable growth in PLTR stock reflects the strong demand for the data analytics and software company’s solutions.