Shares of C3.ai (NYSE: AI) rallied out of the gate Tuesday, climbing as much as 7.2%. As of 12:18 p.m. ET, the stock was still up 3.4%.

While recent advances in the field of artificial intelligence (AI) have caused many related stocks to rally lately, the catalyst that sent the AI software provider climbing was better-than-expected results from a competitor in the space.

Rival AI specialist Palantir Technologies (NYSE: PLTR) released its fourth-quarter report after market close yesterday, and the results were celebrated by investors. Palantir generated revenue that grew 20% year over year to $608 million, driven by strong demand for its AI offerings.

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Source Fool.com