Tomasz Tunguz Estimates Snowflake AI Revenue from Margin Guidance

Tomasz Tunguz posted that Snowflake management lowered product gross margin guidance from 76% to 74% citing fast-growing AI workloads. The venture capitalist calculated that the 200 basis point compression, assuming GPU inference margins of 25% to 35%, points to $60M to $75M per quarter in direct AI token consumption or $240M to $300M ARR. He attached a static sensitivity heatmap chart titled Snowflake Implied AI Revenue.