Snowflake CEO Sridhar Ramaswamy reports 34% product revenue growth to $1.33 billion, sparking a 30% stock spike

Strong Q1 for @Snowflake. ❄️ $1.33B product revenue, up 34% YoY. Accelerating from 30% last quarter and 26% a year ago.

AI is strengthening Snowflake on multiple levels: → core platform growth accelerating as customers get their data AI-ready → AI products Snowflake Intelligence and CoCo seeing rapid adoption → use of AI products increasing overall platform consumption

This is the flywheel of the Agentic Enterprise.

⚡CoCo in use with 7,100+ accounts. 💡Accounts using Snowflake Intelligence more than doubled QoQ.

These are the first product surfaces of the agentic control plane, enabling organizations to securely coordinate agent behavior across their entire business.

616 net new customers (+38% YoY) Operating margin up over 300bps to 12%

@KobeissiLetter I thought $now i was happy for moment 🤣🤣🤣

@KobeissiLetter Snowflake's bet is that AI works best when it runs directly on your data.

The storage layer underneath that data needs to be just as reliable. Verifiable, cost-effective, no egress tax every time a model needs to read it.

That's what Filecoin is built for.

@KobeissiLetter if you're a struggling company, just mention ai.

@KobeissiLetter $SNOW earnings are out. Here’s how they’ve moved following past reports:

@KobeissiLetter Every corporate earnings call has to mention “AI” now, it’s an instant boost.

Snowflake at these levels is overvalued and I expect a price decline soon

@KobeissiLetter Snowflake is getting the AI bump because companies need internal data in one place before agents can do useful work.

Snowflake sells data platform to store, query and govern business data.

Good story, but +30% is a lot for hype.

@KobeissiLetter Can somebody please explain to me why I can't find this same chart? I'm still new -- and have looked at what I think are all of the Snowflake stock options on TradingView. The highest one goes to $175.

@KobeissiLetter $SNOW up 30% after hours.

The two most powerful words in finance right now aren’t “beat estimates.”

They’re “due to AI.”

@KobeissiLetter Bro wtf, I’m sick of missing out!😩😩

🤝Expanded our collaboration with @awscloud to accelerate AI adoption and surpassed $7B in lifetime Marketplace sales.

@KobeissiLetter This is #Bullish for Software!

$SNOW $MSFT

@KobeissiLetter SaaS may have been oversold.The market moved from “growth at any price” to “no growth deserves a multiple.”If rates ease, margins hold, and AI becomes workflow infrastructure, SaaS can get a return story.

Not all of it. The durable layer.

@KobeissiLetter Every earnings season the same story. Beat on AI. Stock surges.

The multiple doesn’t matter anymore. The word does.

@KobeissiLetter higher

@KobeissiLetter How do u even find these stocks before they go like this?

@KobeissiLetter $SNOW just reminded everyone that AI infrastructure isn’t only semis.

Cloud/data platforms powering enterprise AI demand are becoming massive winners too.

@KobeissiLetter Seems healthy...