Snowflake Stock Is Soaring After a Blowout Quarter and a New $6 Billion AWS Deal

Snowflake stock surged over 30% following strong fiscal Q1 results and a $6 billion five-year AWS spending commitment. Product revenue growth accelerated to 34% year-over-year, and net revenue retention climbed to 126% for the first time in over a year, driven by AI adoption. However, the analyst cautions that the lofty price-to-sales ratio of 17 may already reflect much of the good news.