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Snowflake Shares Surge 36% Following Earnings Beat and $6 Billion AWS Deal

The cloud data platform provider raised its annual product revenue forecast and announced a deepened partnership with Amazon Web Services to utilize Graviton chips.

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Earnings Beat and Revenue Outlook

Snowflake shares surged 36% in extended trading on Wednesday following the company's announcement of financial results that exceeded market expectations. The cloud-based data platform provider reported an earnings beat and subsequently raised its annual product revenue forecast.

According to Reuters, the upward revision in revenue forecasts comes as enterprises increase their spending on AI applications and migrate a larger volume of data workloads to Snowflake's cloud platform. The company's stock price reaction reflects the positive reception of these financial results and the updated guidance.

Expanded Partnership with Amazon Web Services

Central to the company's growth strategy is a new $6 billion agreement with Amazon Web Services (AWS). As part of this expanded partnership, Snowflake intends to integrate more deeply with AWS infrastructure to support its AI Data Cloud capabilities.

Specifically, Snowflake plans to utilize Amazon's Arm-based Graviton chips.

AI Integration and Market Positioning

Snowflake is positioning its platform to benefit from the proliferation of AI agents and the broader adoption of enterprise AI. The company's AI Data Cloud is designed to enable organizations to build AI-powered data apps and unlock data insights within a secure and scalable environment.

Industry data indicates that the shift toward AI is driving enterprises to ramp up their data spending. Snowflake is counting on its existing revenue model and data warehousing capabilities to flourish as these AI agents become more prevalent in corporate environments.

Company Background

Headquartered in Menlo Park, California, Snowflake Inc. is an American cloud-based data platform company.

Sources (7)Open
  1. 1.CNBC — Snowflake rockets 36% on earnings beat and plan to spend $6 billion on Amazon cloud
  2. 2.Reuters — Snowflake boosts forecast, signs $6 billion AWS deal as enterprise AI adoption grows | Reuters
  3. 3.Cnbc — Stock Markets, Business News, Financials, Earnings - CNBC
  4. 4.Investopedia — Snowflake Stock Soars on An Upbeat Outlook and An AI Deal With Amazon
  5. 5.Snowflake — Snowflake AI Data Cloud
  6. 6.Msn — Snowflake stock jumps 34%. How Amazon and an earnings beat are fueling the gains.
  7. 7.Wikipedia — Snowflake Inc. - Wikipedia

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How NewsNews AI made this storyOpen

NewsNews AI researched this story across 7 sources, drafted it, and ran the result through an independent editorial pass. It cleared editorial review on first pass.

  • 7 sources cited · linked in full at the bottom of the article
  • Image license verified · unsplash
  • Independent editorial pass · approved

From the editor

Verified all claims against source snippets. The two previously flagged issues (Graviton price-performance claim and quarterly/annual scaling claim) are confirmed removed from this draft. All remaining factual claims are supported by their cited snippets: the 36% surge and $6B AWS deal are backed by sources 1–4, the Graviton chip detail by source 1, the revenue forecast raise and AI enterprise spending by source 2, the AI Data Cloud description by source 5, and the Menlo Park HQ by source 7. No fabricated quotes, unsupported claims, or overreach detected.

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