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Barchart

Aditya Raghunath

Snowflake Stock Jumps Over 40% on Strong Earnings and Amazon Deal. Its AI Strategy Is at an Inflection Point.

Snowflake SNOW AI Amazon Strategy COCO AWS Meta Sridhar Ramaswamy

Snowflake (SNOW) is a stock investors should pay attention to right now. After years of promise, the company's artificial intelligence (AI) strategy has finally hit an inflection point. Product revenue grew 34% year-over-year (YOY) to $1.33 billion in the first quarter of fiscal 2027, beating the consensus estimate of $1.32 billion, while adjusted EPS came in at $0.39 against Wall Street's estimate of $0.32.

The tech stock surged more than 40% between May 28 and June 1. Currently, Snowflake has a market capitalization of $83.4 billion. The ongoing rally in SNOW stock is a sign that Snowflake is becoming a compounding AI story, creating a rare window for long-term investors.

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