Palantir’s strong numbers were driven by a 52% year-over-year and 12% quarter-over-quarter increase in revenue in the U.S., with U.S. commercial revenue up 64% year-over-year and government revenue up 45%. The company closed 129 details of at least $1 million in the quarter, 58 deals of at least $5 million and 32 deals of at least $10 million.

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 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,