Snowflake Surges 35% In Premarket Trading After AI-Fueled Blowout Quarter, $6 Billion AWS Deal

Snowflake Inc. (NYSE: SNOW ) shares skyrocketed over 35% in premarket trading on Thursday after the AI data cloud provider crushed first-quarter fiscal 2027 expectations, upgraded its full-year growth outlook, and announced a massive $6 billion multi-year infrastructure agreement with Amazon.com Inc. ‘s (NASDAQ: AMZN ) AWS. A ‘Clear Inflection’ In AI Growth The blowout quarter represents a pivotal shift that Patrick Moorhead , Chief Analyst at Moor Insights Strategy, said can fundamentally “re-rate the data platform story,” signaling that enterprise AI product adoption is finally lifting corporate trajectories rather than just driving market narrative. Snowflake's first-quarter revenue climbed 33% year-over-year to $1.39 billion, handily beating Wall Street estimates of $1.32 billion. On the back of this accelerated momentum, management lifted its full-year fiscal 2027 product revenue guidance to $5.84 billion, representing 31% year-over-year growth. "AI continues to be a powerful tailwind for Snowflake, and Q1 marks a clear inflection point in that journey," stated Snowflake CEO Sridhar Ramaswamy . ... Full story available on Benzinga.com