Snowflake erupts on AI boom and $6B Amazon deal — ride the momentum
Snowflake just delivered blowout earnings fueled by AI demand, raised its full-year forecast, and pledged $6 billion to deepen its partnership with Amazon's cloud platform. The stock is surging toward its best day ever.
Idea
Snowflake is proving that AI spending is accelerating, not fading. They beat earnings expectations, raised guidance, and locked in a massive $6 billion AWS partnership expansion—all signs that big customers are doubling down on AI data infrastructure. This kind of transformative catalyst often kicks off a multi-week momentum run as institutional investors recalibrate their models upward. The broader AI rally is also providing tailwinds: Micron just crossed a trillion-dollar valuation and Goldman raised its S&P 500 target to 8,000 citing booming earnings. If the stock pulls back toward the day's opening level, that's a natural entry point where initial excitement gives way to a second leg higher.