Snowflake Surges on Earnings Beat, $6B AWS Deal

Snowflake's stock jumped after-hours following a strong first-quarter earnings report and a $6 billion, five-year spending commitment on Amazon Web Services infrastructure, including Amazon's Graviton and AI accelerator chips. The company beat Wall Street targets with earnings of 39 cents per share versus the expected 32 cents, and revenue of $1.39 billion, up 33% year-over-year. Snowflake also raised its full-year product revenue guidance to $5.84 billion, well above analyst estimates of $5.67 billion. CEO Sridhar Ramaswamy cited strong momentum in both its core business and AI products, positioning the company as a key platform for enterprise agentic AI workloads.