Snowflake erupts on AI boom and $6B Amazon deal — ride the momentum
Snowflake just reported blockbuster earnings powered by AI demand, raised its revenue outlook, and locked in a massive $6 billion expansion with Amazon's cloud division. The stock is surging toward a record single-day gain.
Idea
Snowflake didn't just beat expectations — it posted record product-revenue growth thanks to companies rushing to build AI on its data platform. The $6 billion AWS commitment signals that Amazon, the biggest cloud provider, is betting big on this partnership lasting years. Goldman just raised its S&P 500 target on booming earnings, so the macro backdrop for tech momentum is supportive. When a cloud stock gaps up on this kind of volume and raises guidance, the move tends to keep running for a couple of weeks as analysts scramble to hike their price targets.