Snowflake's AI-driven growth boosts product revenue 30% YoY, with strong future outlook to $5.66B by FY27.

Snowflake Inc. reported a 30% year-over-year increase in product revenue to $1.23 billion, driven by strong enterprise demand and AI integration. Its remaining performance obligations (RPO) rose 42% to approximately $9.8 billion, reflecting solid customer commitment. Management forecasts product revenue to reach $5.66 billion by fiscal year 2027, supported by AI advancements and operational efficiencies. Despite premium valuation and current unprofitability, Snowflake is rated a Buy due to its strategic position in AI workloads and market expansion potential.