Snowflake (SNOW) Stock Surges 38% on AI-Driven Earnings Beat and AWS Partnership

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2026-05-28 23:11:01

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Snowflake Inc. shares soared 38% in after-hours trading, marking their largest single-day gain after the cloud-data company reported fiscal first-quarter results that crushed Wall Street estimates. Revenue of $1.39 billion and adjusted EPS of $0.39 significantly exceeded consensus projections of $1.32 billion and $0.32 respectively.

The rally reflects accelerating enterprise demand for AI infrastructure, with Snowflake raising its full-year product revenue guidance to $5.84 billion from $5.66 billion. A landmark $6 billion, five-year agreement with Amazon Web Services further fueled investor optimism, promising deeper AI integrations and workload migration solutions.

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