Analysts Raise AI Bets as Snowflake Debuts Finance-Focused Cortex and AMD Secures OpenAI Deal
Confidence grows on enterprise AI demand as data‑platform leadership consolidates alongside expanding long‑term capacity commitments.
Overview
- Snowflake announced Cortex AI for Financial Services on Oct. 2 with rigorous security and compliance features and a Model Context Protocol (MCP) Server now in public preview.
- UBS on Oct. 10 lifted Snowflake’s price target to $310 and kept a Buy rating after New York events, noting AI is a demand driver even as near‑term revenue impact remains hard to quantify.
- UBS checks suggest data‑management leadership has narrowed to Databricks and Snowflake, with ClickHouse seen addressing latency‑sensitive niches.
- OpenAI agreed to deploy up to 6 gigawatts of AMD Instinct GPUs over multiple years, starting with 1 gigawatt in the second half of 2026, alongside a warrant for up to 160 million AMD shares.
- Dell raised long‑term goals on Oct. 7, projecting $20 billion in fiscal 2026 AI server revenue and a 20%–25% CAGR to about $46 billion by fiscal 2030.