Snowflake shares surged 35% after the cloud data company reported strong earnings and announced a $6 billion computing agreement with Amazon. Investors reacted positively to accelerating artificial intelligence-related revenue growth and improving demand for enterprise cloud infrastructure services.
The company said adoption of AI-driven analytics, machine learning workloads, and enterprise data platforms continued expanding across major corporate clients. Snowflake also highlighted increasing customer demand for AI applications built on its cloud ecosystem, reinforcing expectations for long-term revenue growth tied to generative AI adoption.
The new agreement with Amazon is expected to strengthen Snowflake’s computing capacity and support future AI product expansion as competition intensifies across cloud computing and enterprise software markets. Analysts said the results further reinforced investor confidence in AI-linked infrastructure companies.
