Palantir surged more than 23% in premarket trading after reporting stronger-than-expected fourth-quarter results and guidance driven by AI CEO and co-founder Alex Karp called the momentum within its commercial and government segments "unlike anything that has come before.

Palantir Technologies stock was soaring after the company posted a big beat with its fourth-quarter results on Monday afternoon. Earnings per share were up annually by 75% to 14 cents, compared with Wall Street’s consensus estimate of 11 cents,

Palantir reported adjusted earnings per share of 14 cents, up from eight cents per share in the same quarter of last year, on revenue of $827.5 million, up 36% year-over-year. Analysts had been expecting 11 cents per share on revenue of $778.

CNBC's Becky Quick reports on the company's quarterly earnings results. Trump nominee Kash Patel touches parents’ feet at hearing 6 signs you're not eating enough protein Why did the Mavs trade Luka Dončić?