Snowflake Jumps 22% as AI Growth Fuels Earnings Beat
Snowflake provides cloud-based data warehousing, analytics and infrastructure used by companies to manage increasingly complex workloads. The rapid adoption of generative AI has strengthened demand for platforms that can organize enterprise data and support new applications. Snowflake’s expanding AI portfolio, including its CoCo coding agent, is helping drive customer usage and positioning the company to capture more spending on AI development and infrastructure.
Snowflake reported quarterly results that exceeded market expectations as adoption of its AI tools and broader product usage accelerated. The company also raised its full-year revenue outlook and said it would deepen investment in AI infrastructure and related products. Investors responded sharply to the stronger results and upgraded forecast, sending Snowflake shares up more than 22% in after-hours trading following the earnings release.
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The history behind this eventSnowflake Raises Forecast, Commits $6 Billion to AWS Partnership to Advance AI Agents
Enterprise cloud data platform provider Snowflake is extending its data-governance capabilities to AI agents. As businesses adopt agentic AI, computing power, data security and permissions to take action have become critical. Snowflake has acquired Natoma, an enterprise MCP platform startup, to strengthen agent connectivity, governance and security.
On May 27, 2026, Snowflake reported revenue of $1.39 billion for the fiscal 2027 first quarter ended April 30. Product revenue rose 34% year over year to $1.33 billion, while the company raised its full-year product revenue forecast to $5.84 billion. The same day, Snowflake committed to spending $6 billion with Amazon Web Services over five years, sending its shares up more than 37% in after-hours trading.
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