Quick Read – Snowflake (SNOW) reported Q1 FY2027 product revenue of $1.33B, up 34% YoY with non-GAAP EPS of $0.39 beating consensus of $0.32, while signing a $6B multiyear deal with Amazon (AMZN) to use Graviton CPUs. – Snowflake’s 37% intraday stock surge reflects CEO Sridhar…
maswamy’s declaration that Q1 marks a clear inflection point for AI adoption, with 13,600+ accounts using Cortex Code and Snowflake Intelligence, signaling enterprises are now spending on production AI workloads rather than pilots. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Snowflake wasn’t one of them. Get them here FREE
Shares of Snowflake (NYSE:SNOW) are rocketing higher on Thursday morning, with the stock up 35% to around $240 after the company posted a blowout Q1 FY2027 report and unveiled a $6 billion multiyear deal with Amazon’s (NASDAQ:AMZN) AWS (Amazon Web Services). SNOW stock closed at $175.26 on Wednesday. The move would mark one of the largest single-day jumps in company history and a sharp reversal from a brutal setup.
Snowflake stock was down 20% year to date (YTD) heading into the print and was trading well below its 200-day moving average of $202.49. CEO Sridhar Ramaswamy used the release to call Q1 a “clear inflection point” for AI inside the Snowflake platform. That framing, paired with the Amazon megadeal and a raised forecast, lit a fire under a name that had been stuck in a downtrend since January.