AI Fuels Snowflake’s Accelerating Revenue Growth
TL;DR
Snowflake posted a third straight quarter of accelerating product revenue growth and raised its full-year outlook, with CEO Sridhar Ramaswamy saying AI accounted for about half of the company’s outperformance. He discusses the rapid adoption of Snowflake’s AI coding agent Coco, growing customer usage, and how the company is competing with Databricks in the race to turn enterprise data into AI-driven growth. He joins Ed Ludlow on "Bloomberg Tech. " (Source: Bloomberg).
Nauti's Take
Three quarters of accelerating growth is a solid signal that enterprise customers actually pay for AI workloads instead of merely piloting them. Caution still applies, because a coding agent like Coco generates usage that may largely come from experiments.
Teams running Snowflake should measure consumption per team before the budget follows the hype.
Summary
Snowflake posted a third straight quarter of accelerating product revenue growth and raised its full-year outlook, with CEO Sridhar Ramaswamy saying AI accounted for about half of the company’s outperformance. He discusses the rapid adoption of Snowflake’s AI coding agent Coco, growing customer usage, and how the company is competing with Databricks in the race to turn enterprise data into AI-driven growth.
He joins Ed Ludlow on "Bloomberg Tech. " (Source: Bloomberg)
Sources