Snowflake shares surge as AI boom fuels demand for data platforms
Snowflake shares jumped about 14% on Thursday riding a wave of demand for its artificial intelligence database products, as companies race to modernize their data infrastructure and simplify AI adoption.
The stock move is set to add more than $11 billion to its $67 billion market capitalization, if premarket gains hold.
The cloud-based data warehousing firm, which helps enterprises store, manage and analyze massive datasets across multiple cloud providers, said demand for its platform is accelerating.
