Good afternoon. I'm Ana Soro from Palantir's finance team and I'd like to welcome you to our fourth quarter 2024 earnings call. We'll be discussing the results announced in our press release issued after the market close and posted on our investor relations website. During the call we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements regarding our first quarter and fiscal 2025 results, management's expectations for our future financial and operational performance, and other statements regarding our plans, prospects and expectations. These statements are not promises or guarantees and are subject to risks and uncertainties which could cause them to differ materially from actual results. Information concerning those risks is available in our earnings press release distributed after the market closed today and in our SEC filings.
We undertake no obligation to update forward-looking statements except as required by law. Further, during the course of today's call we will refer to certain adjusted financial measures. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from GAAP measures. Additional information about these non-GAAP measures, including reconciliation of non-GAAP to comparable GAAP measures, is included in our press release and investor presentation provided today. Our press release, investor presentation and other earnings materials are available on our investor relations website at investors.palantir.com. Over the course of the call we will refer to various growth rates when discussing our business. These rates reflect year-over-year comparisons unless otherwise stated.
Joining me on today's call are Alex Karp, Chief Executive Officer, Shyam Sankar, Chief Technology Officer, David Glazer, Chief Financial Officer, and Ryan Taylor, Chief Revenue Officer and Chief Legal Officer. I'll now turn it over to Ryan to start the call.
2024 was nothing short of incredible for Palantir. Our momentum accelerated through year end, closing out 2024 with exceptional Q4 results including an extraordinary top line beat and outperformance. Led by our U.S. business, revenue grew 14% sequentially and 36% year over year in Q4 and 29% year over year for the full year. The AI revolution continues transforming industries and redefining how organizations operate. AI is a pivotal component in driving innovation and efficiency, something companies need to embrace or fall behind. With the proliferation of AI models, the raw AI labor supply is exploding while everyone else is focused on the model supply side. We're transforming AI into a measurable stream of high value finished goods and services. The result? The rapid emergence of quantified exceptionalism for organizations able to unlock the potential of these commoditized models through AIP, a byproduct of our incredible progress.
Our Rule of 40 score increased to 81 in the fourth quarter. It's a substantial leap to deploy LLMs into production with real impact. Most organizations are currently stuck on the wrong side of the widening chasm, working on their two, five and 10-year plans which become obsolete days later, failing to ever take action. But not Palantir or our quickly growing customer base. We've taken our position through our decades-long investment in developing the Ontology which allows organizations to seamlessly weave LLMs into their enterprise, unlocking their highest potential leverage in this AI revolution. Anyone looking for a solution that actually works is going to choose Palantir. Last quarter alone we closed $1.8 billion of TCV across our business, which represents a 56% increase year over year. We closed a record-setting number of deals in Q4, including 32 deals worth $10 million or more.
Our U.S. business is at the forefront of the AI Revolution, growing 52% year over year. In Q4 last quarter, U.S. Commercial revenue grew 64% year over year and 20% sequentially. AIP continues to fuel new customer acquisition as we have nearly five times the number of U.S. Commercial customers as we did three years ago and significant expansion opportunities at existing customers. Organizations who have crossed the chasm with Palantir are driving real impact quickly in this AI revolution. The biggest risk is not moving fast enough and organizations are looking to us with Palantir as soon as work begins. We're delivering real quantified exceptionalism for our customers. In my conversations, they're excitedly asking how we can replicate this success across their organizations.
One of America's largest pharmacies has been a customer since early 2024 and signed a $67 million TCV engagement with us right after the pilot for workflows including automatically load balancing prescription fulfillment and orchestrating patient outreach. An American telecom company became a customer approximately two years ago and recently signed a $40 million TCV expansion deal to help manage and accelerate their decommissioning of old network technologies and equipment in order to achieve significant cost savings. Last earnings call we mentioned the leading global insurance organization that deployed AIP to help automate underwriting workflows, reducing a two-week process to three hours. That organization signed a nearly $11 million ACV expansion deal in Q4.
Panasonic Energy North America is seeing the effects of its AIP expansion as they've created a maintenance assistant to help 350 technicians in making 5.5 million batteries per day, resulting in reduced machine downtime, greater throughput and rapid onboarding of new technicians in Q4. We also announced the customers in the inaugural Warp Speed Cohort which are using Palantir's Warp Speed to gain an advantage in aspects of their manufacturing operating system, including automated visual quality inspections and dynamic production scheduling. Anduril's CIO Tom Bosco noted, "By using the software we've seen up to 200x efficiency gain in our ability to anticipate and respond to supply shortages." Our U.S. Government business, the foundation on which Palantir was built, is exceedingly strong, with revenue growing 45% year over year last quarter. We take pride in supporting the critical missions we're delivering against.
Notable deals included the U.S. Army extending its long-standing partnership with Palantir to deliver the Army Vantage capability in support of the Army Data Platform for up to four years. We also announced our recent contract expansion with U.S. Special Operations Command, marking the first deployment of Mission Manager to U.S. Special Operations Forces units. Our international commercial business continues to see pockets of growth alongside the large renewals of some of our long-standing customers. For example, Rio Tinto extended their partnership with Palantir for an additional four years, noting AIP is making their unstructured data accessible, allowing them to quickly attack problems previously deemed too complex. Using our software, Network Rail specialists coordinate 53 driverless trains, each with 240 wagons, ultimately improving throughput and safety. Our international government business also achieved strong growth.