Palantir shares surge 15% after company posts strong earnings and outlook

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Palantir shares surged as much as 18% in extended trading on Monday after the software company reported fourth-quarter earnings and revenue that surpassed Wall Streets estimates. "Our business results continue to astound, demonstrating our deepening position at the center of the AI revolution," Karp said in the earnings release. "Our early insights surrounding the commoditization of large language models have evolved from theory to fact." Palantir has benefited from the boom in generative AI following the release of OpenAIs ChatGPT in late 2022. In an interview with CNBC last week, Karp said that Palantir is poised to lead the transformation of American companies, and he asserted that bolstering the U.S. is its "primary objective."

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