Snowflake boosts forecast, signs $6 billion AWS deal as enterprise AI adoption grows

Snowflake raised annual product revenue forecast on Wednesday, as enterprises ramped up spending on AI applications and shifted more data workloads to its cloud platform, sending its shares surging 36% in extended trading.

The company also signed a five-year deal worth $6 billion with Amazon ‌Web Services ⁠to use ⁠AWS’ Graviton processors and AI infrastructure, as their partnership deepens around enterprise AI.