Snowflake’s AI Rally Just Got Bigger

Snowflake Inc. (NYSE: SNOW) shares traded higher after the company reported a first-quarter double beat and expanded its strategic AI partnership with Amazon Web Services. Snowflake reported adjusted earnings of 39 cents per share, topping the 32-cent consensus estimate. Revenue came in at $1.39 billion, above the $1.32 billion estimate and up 33% year-over-year. Product revenue reached $1.33 billion, up 34% year-over-year, while net revenue retention came in at 126%. Snowflake also announced a multi-year strategic collaboration agreement with AWS to accelerate enterprise agentic AI adoption. As part of the deal, Snowflake committed $6 billion in Graviton compute and AI spending on AWS over five years. CEO Sridhar Ramaswamy said AI continues to be a powerful tailwind for Snowflake, while CFO Brian Robins said the company raised full-year product revenue guidance due to momentum across its core platform and AI business. Snowflake reported 779 customers with trailing 12-month product revenue above $1 million, 813 Forbes Global 2000 customers, and remaining performance obligations of $9.21 billion. Analysts also raised targets after the report, with Stifel and Morgan Stanley moving to $300 and Goldman Sachs raising its target to $278. Disclaimer: Video contains AI generated content. #Snowflake #AIStocks #CloudComputing --- 🖥️ Try Benzinga Pro FREE with a 14 day trial: https://www.benzinga.com/pro/register 📈 Take your trading to the next level with our suite of premium research services and tools: https://www.benzinga.com/services 🌐 Find more market-moving insights at https://www.benzinga.com — your one-stop destination for the latest financial news, data, and expert analysis to stay ahead of the markets. 📲 Follow us on socials @benzinga ------------------------------------------------------------------------------------ 🔹Free Benzinga Webinars: https://www.youtube.com/watch?v=LQ2jOJNkDfI&list=PL4k0fH8EgI3YTdqniRmxrvz97w3IQ61rD 🔹Benzinga Pro Tutorials: https://www.youtube.com/watch?v=a2FaHhLIrks&list=PL4k0fH8EgI3YMwoBMFXGvVMkgixFymmei&pp=gAQB 🔹Earnings Calls: https://www.youtube.com/watch?v=C2-AoCw64Ok&list=PL4k0fH8EgI3buZI5529R53wJUNd9NS4_s 🔹Premarket Playbook: https://www.youtube.com/playlist?list=PL4k0fH8EgI3ZVRPM7INpG--GvohnBVTnT 🔹Benzinga's All Access: https://www.youtube.com/playlist?list=PL4k0fH8EgI3bQSn91atO-3lPT4V6Nwsmh 🔹Subscribe To The Channel: https://www.youtube.com/@Benzinga ------------------------------------------------------------------------------------ ⚠️ Disclaimer: Investing in financial markets carries risk, and there are no guaranteed returns. All information is for educational purposes only and should not be taken as financial advice. Always do your own research and speak with a qualified financial advisor before making investment decisions. Only invest what you can afford to lose. Past performance does not guarantee future outcomes. #StockMarket #StockMarketNews #Trading #StockMarketLive #Stocks #stocktrading #learntotrade #DayTrading #StockMarketToday