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Benzinga
Benzinga
Business
Anusuya Lahiri

Snowflake Nears 52-Week High On AI Boom, Big Tech Spending Spree

SNOW Snowflake Snowflake Inc Artificial Intelligence Meta Microsoft Morgan Stanley United States
Snowflake

Cloud-based data platform Snowflake Inc. (NYSE:SNOW) climbed Monday, fueled by growing adoption of its AI-focused data cloud tools and a wave of multi-billion-dollar artificial intelligence spending commitments from tech giants.

Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOGL) Google plan to invest over $250 billion in AI infrastructure from 2025 to 2026, with Meta targeting nearly $100 billion in 2026 capex, Google raising its 2025 outlook to $85 billion, and Microsoft’s annual spending trending above $100 billion.

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