Snowflake stock jumps on earnings beat, raised outlook, and $6B AWS AI partnership

Snowflake's shares surged to record highs after the company reported fiscal Q1 earnings that exceeded expectations and raised its full-year forecast. The cloud software firm highlighted strong growth driven by accelerating AI adoption, with 46 customers now spending over $1 million annually, up from 26 a year ago. Snowflake also announced a $6 billion commitment to deepen collaboration with Amazon Web Services, aiming to help customers deploy AI faster. This expansion signals confidence in AI's role in driving future demand for Snowflake's data platform services.