Snowflake Raises Sales Forecast Amid Strong AI Product Demand

The data cloud company sees significant growth potential as it integrates AI technologies and cloud-based solutions.

Snowflake's Q1 product revenue rose 34% year-over-year to $789.6 million, exceeding analyst expectations.
The company forecasts Q2 product revenue between $805 million and $810 million, surpassing Wall Street estimates.
Snowflake increased its full-year product revenue guidance to $3.3 billion from $3.25 billion.
CEO Sridhar Ramaswamy highlighted strong customer interest in new AI products now generally available.
Snowflake plans to acquire technology assets and hire 35 employees from AI startup TruEra.