{"id":33942,"date":"2026-05-28T14:10:15","date_gmt":"2026-05-28T14:10:15","guid":{"rendered":"https:\/\/www.europesays.com\/news\/33942\/"},"modified":"2026-05-28T14:10:15","modified_gmt":"2026-05-28T14:10:15","slug":"snowflake-stock-soars-on-growing-enterprise-ai-demand-aws-partnership","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/news\/33942\/","title":{"rendered":"Snowflake stock soars on growing enterprise AI demand, AWS partnership"},"content":{"rendered":"\n<p class=\"yf-1fy9kyt\">What happened: Snowflake (<a class=\"link \" href=\"https:\/\/finance.yahoo.com\/quote\/SNOW\" data-i13n=\"cpos:1;pos:1\" data-ylk=\"slk:SNOW;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;1&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;SNOW&quot;,&quot;yHasCommerce&quot;:false}\" rel=\"nofollow noopener\" target=\"_blank\">SNOW<\/a>) stock jumped 38% in premarket trading on Thursday after the cloud data company posted better-than-expected quarterly results, driven by accelerating enterprise AI demand for its platform and an expanded deal with Amazon\u2019s (<a rel=\"nofollow noopener\" class=\"link \" href=\"https:\/\/finance.yahoo.com\/quote\/AMZN\/\" data-i13n=\"cpos:2;pos:1\" data-ylk=\"slk:AMZN;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;2&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;AMZN&quot;,&quot;yHasCommerce&quot;:false}\" target=\"_blank\">AMZN<\/a>) Amazon Web Services.<\/p>\n<p class=\"yf-1fy9kyt\">Shares of peer ServiceNow (<a rel=\"nofollow noopener\" class=\"link \" href=\"https:\/\/finance.yahoo.com\/quote\/NOW\" data-i13n=\"slk:NOW;cpos:3;pos:1\" data-ylk=\"slk:NOW;slk:NOW;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;3&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;NOW&quot;,&quot;yHasCommerce&quot;:false}\" target=\"_blank\">NOW<\/a>) also jumped, along with the broader iShares Expanded Tech-Software ETF (<a rel=\"nofollow noopener\" class=\"link \" href=\"https:\/\/finance.yahoo.com\/quote\/IGV\/\" data-i13n=\"slk:IGV;cpos:4;pos:1\" data-ylk=\"slk:IGV;slk:IGV;cpos:4;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;4&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;IGV&quot;,&quot;yHasCommerce&quot;:false}\" target=\"_blank\">IGV<\/a>).<\/p>\n<p class=\"yf-1fy9kyt\">What\u2019s behind the move: Snowflake said AI products contributed to the \u201cstrongest sequential product revenue dollar growth\u201d in its history. Fiscal first quarter revenue grew 33% year over year to $1.39 billion.<\/p>\n<p class=\"yf-1fy9kyt\">The company announced an expanded collaboration with AWS through a new multiyear, $6 billion agreement aimed at accelerating global enterprise AI adoption. It also deepened its partnership with OpenAI (<a rel=\"nofollow noopener\" class=\"link \" href=\"https:\/\/finance.yahoo.com\/quote\/OPAI.PVT\/\" data-i13n=\"cpos:5;pos:1\" data-ylk=\"slk:OPAI.PVT;cpos:5;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;5&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;OPAI.PVT&quot;,&quot;yHasCommerce&quot;:false}\" target=\"_blank\">OPAI.PVT<\/a>).<\/p>\n<p class=\"yf-1fy9kyt\">What else do you need to know: WedBush Securities analyst Dan Ives reiterated an Outperform rating on Snowflake stock while raising his share price target from $270 to $280.<\/p>\n<p class=\"yf-1fy9kyt\">\u201cWe continue to believe the software landscape is in the early innings of AI monetization as the disconnect induced by the \u2018AI Ghost Trade\u2019 closes for SNOW,\u201d Ives wrote in a client note following the quarterly results.<\/p>\n<p class=\"yf-1fy9kyt\">The broader iShares Expanded Tech-Software Sector ETF has rebounded 24% since mid-April as investors have grown more bullish on companies viewed as direct beneficiaries of artificial intelligence-driven productivity gains. Software firms have been aggressively promoting the integration of generative AI tools into their platforms.<\/p>\n<p class=\"yf-1fy9kyt\">The recent rally marks a sharp reversal from earlier this year, when software stocks came under pressure amid fears that artificial intelligence could disrupt traditional software business models.<\/p>\n<p>    <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/news\/wp-content\/uploads\/2026\/05\/7748ed90-3743-11f0-8fbf-46b62dff7c6f.jpeg\" alt=\"The Snowflake Inc logo, the American cloud computing-based data company that offers cloud-based storage and analytics services, is on their pavilion during the Mobile World Congress 2025 in Barcelona, Spain, on March 5, 2025. (Photo by Joan Cros\/NurPhoto via Getty Images)\" loading=\"eager\" height=\"640\" width=\"960\" class=\"yf-lglytj  loaded\"\/> The Snowflake logo is seen on its pavilion during the Mobile World Congress 2025 in Barcelona, Spain, on March 5, 2025. (Joan Cros\/NurPhoto via Getty Images)  \u00b7 NurPhoto via Getty Images    <\/p>\n<p class=\"yf-1fy9kyt\">Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at <a class=\"link \" href=\"https:\/\/twitter.com\/ines_ferre\" data-i13n=\"slk:@ines_ferre;cpos:6;pos:1\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:@ines_ferre;slk:@ines_ferre;cpos:6;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;6&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;@ines_ferre&quot;,&quot;yHasCommerce&quot;:false}\">@ines_ferre<\/a>.<\/p>\n<p class=\"yf-1fy9kyt\"><a rel=\"nofollow noopener\" class=\"link \" href=\"https:\/\/finance.yahoo.com\/tech\" data-i13n=\"slk:Click here for the latest technology news that will impact the stock market;cpos:7;pos:1\" data-ylk=\"slk:Click here for the latest technology news that will impact the stock market;slk:Click here for the latest technology news that will impact the stock market;cpos:7;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;7&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Click here for the latest technology news that will impact the stock market&quot;,&quot;yHasCommerce&quot;:false}\" target=\"_blank\">Click here for the latest technology news that will impact the stock market<\/a><\/p>\n<p class=\"yf-1fy9kyt\"><a rel=\"nofollow noopener\" class=\"link \" href=\"https:\/\/finance.yahoo.com\/news\/\" data-i13n=\"slk:Read the latest financial and business news from Yahoo Finance;cpos:8;pos:1\" data-ylk=\"slk:Read the latest financial and business news from Yahoo Finance;slk:Read the latest financial and business news from Yahoo Finance;cpos:8;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;8&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Read the latest financial and business news from Yahoo Finance&quot;,&quot;yHasCommerce&quot;:false}\" target=\"_blank\">Read the latest financial and business news from Yahoo Finance<\/a><\/p>\n<p>   <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"What happened: Snowflake (SNOW) stock jumped 38% in premarket trading on Thursday after the cloud data company posted&hellip;\n","protected":false},"author":2,"featured_media":33943,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[10204,8,9,12026,6415,7],"class_list":["post-33942","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-stories","tag-amazon-web-services","tag-headlines","tag-news","tag-premarket-trading","tag-stock","tag-top-stories"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@news\/116652606965889228","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts\/33942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/comments?post=33942"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts\/33942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/media\/33943"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/media?parent=33942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/categories?post=33942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/tags?post=33942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}