Shares of Palantir Technologies (NYSE: PLTR) soared out of the gate on Tuesday, spiking as much as 30.7%. As of 10:47 a.m. ET, the stock was still up 24.9%

The catalyst that sent the artificial intelligence (AI) software and data mining specialist higher was the company's quarterly financial report and management's bullish commentary.

For the fourth quarter, Palantir generated revenue that grew 20% year over year (and 9% quarter over quarter) to $608 million. The results were fueled by strong U.S. commercial revenue, which surged 70%.

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Source Fool.com