Sridhar Ramaswamy sees the major software players beginning to sort the AI winners from the losers. As of now, Snowflake, the cloud storage company where Ramaswamy is chief executive, is on the upside.
Ramaswamy just delivered a blowout first quarter for Snowflake, which this week reported a beat across the board. The results helped vault its shares up 36% and extended five-day gains past 50%. Shares also surged after the 14-year-old company said it would pay Amazon $6 billion during the next five years for the tech giant’s popular Graviton chips, reflecting strong demand Snowflake is seeing for its services.
