Snowflake beats revenue estimates, signs $200 million AI deal with Anthropic

Snowflake reported third-quarter revenue above analysts’ estimates on Wednesday and signed a $200 million partnership with artificial intelligence firm Anthropic to deepen AI integration across its data cloud platform.

Businesses have been implementing generative AI strategies and building applications that leverage large language models for tasks such as data analysis, automation and customer engagement, benefiting companies such as Snowflake.