Snowflake announced a $3.5 billion convertible note offering, causing its shares to fall 4% amid concerns about dilution. The deal is structured with capped calls to limit dilution and aims to strengthen Snowflake's balance sheet by extending debt maturities and funding buybacks or acquisitions. This news also pressured other cloud stocks like Oracle and Datadog, which fell 3-4% despite no new offerings. Investors should watch Snowflake's final deal terms and broader cloud sector trends for future stock movement.
As of Sep 28, 2026 21:02 WIB, Snowflake trades at USD 325.89 on Pluang, down 2.99% for the day. Oracle shares are priced at USD 133.67, falling 2.49% as of the same time. Datadog shows a smaller decline, trading at USD 267.40 with a 0.27% drop on Pluang.
