May. 28 at 1:54 AM
Snowflake shares jumped nearly 36% in after-hours trading Wednesday after the cloud software company posted a strong fiscal first-quarter earnings beat, lifted its full-year guidance, and unveiled a
$6 billion commitment to deepen its collaboration with Amazon Web Services. Investors reacted positively as the company highlighted accelerating demand tied to artificial intelligence adoption across enterprises.
Chief Financial Officer Brian Robins said AI-driven workloads are boosting growth in Snowflake’s core data-platform business. The company also reported a sharp increase in large customers, with 46 clients now spending more than
$1 million annually on a trailing 12-month basis, up from 26 a year earlier. The results reinforced optimism that Snowflake is becoming a major beneficiary of rising corporate investment in AI infrastructure and data analytics.
$SNOW $AMZN