Snowflake Stock Surges 40% on Earnings Beat and $6 Billion AWS AI Deal
Snowflake (SNOW) shares surged up to 40% on May 28, 2026, after reporting fiscal Q1 2027 revenue of $1.39 billion (33% YoY growth) and adjusted EPS of $0.39, both beating estimates. The company raised full-year product revenue guidance to $5.84 billion. Key catalysts included a $6 billion, five-year AI compute deal with Amazon Web Services and the acquisition of AI startup Natoma. The results alleviated fears of AI disrupting software-as-a-service, lifting the broader software sector.
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Snowflake Stock Surges Over 40% on Strong Earnings and $6 Billion Amazon Deal
Snowflake (SNOW) stock surged over 40% between May 28 and June 1, 2026, following strong fiscal Q1 2027 earnings and a major partnership expansion with Amazon Web Services (AWS). Product revenue grew 34% year-over-year to $1.33 billion, beating consensus estimates, while adjusted EPS of $0.39 exceeded Wall Street's $0.32 forecast. The company's AI strategy reached an inflection point driven by two products: Snowflake Intelligence, a natural language query tool, and Cortex Code (CoCo), a coding agent for data and AI workflows. CoCo, launched in February 2026, was adopted by over 7,100 customer accounts by end of Q1. Snowflake also signed a new five-year, $6 billion agreement with AWS, expanding use of Amazon's Graviton chips and cloud GPUs for AI workloads. The company's market capitalization now stands at $83.4 billion.
Yahoo FinanceSnowflake stock spikes on $6B deal with cloud giant
Snowflake (SNOW) stock surged 38% in pre-market trading after reporting a blockbuster first quarter for fiscal 2027, driven by a new five-year, $6 billion cloud infrastructure deal with AWS—more than double its previous agreement. The data cloud company added 616 net new customers in Q1, up 38% year over year, reaching a total of 13,912 customers. Product revenue hit $1.334 billion, up 34% year over year, beating prior growth rates. Net revenue retention climbed to 126%, and non-GAAP operating margin expanded by over 300 basis points to 12%. CEO Sridhar Ramaswamy highlighted AI as compounding Snowflake's data advantage, with major migrations from Teradata by a large U.S. bank and Nestle building enterprise data products used by 50,000 employees globally. The AWS deal includes expanded go-to-market investment and collaboration, and Snowflake surpassed $7 billion in lifetime AWS Marketplace sales.
Yahoo FinanceSnowflake Stock Surges 40% on Earnings Beat and $6 Billion AWS Deal
Snowflake (SNOW) stock surged approximately 40% on May 28, 2026, erasing a 20% year-to-date decline in a single session. The AI infrastructure company reported fiscal Q1 2027 revenue of $1.39 billion (33% YoY growth), beating consensus estimates of $1.32 billion. Product revenue grew 34% to $1.33 billion, and non-GAAP EPS of $0.39 exceeded the $0.32 consensus. Management raised full-year product revenue guidance to $5.84 billion (31% growth). The company also announced a five-year, $6 billion cloud commitment deal with Amazon Web Services covering AWS Graviton chips and GPU-accelerated instances for AI workloads. Additionally, Snowflake acquired Natoma, an enterprise Model Context Protocol platform for governing AI agents. The moves reposition Snowflake as a core data infrastructure layer for enterprise AI, driving investor optimism.
Yahoo FinanceSnowflake Stock Surges 40% on Earnings Beat and $6 Billion AWS Deal
Snowflake (SNOW) stock surged approximately 40% on May 28, 2026, erasing its year-to-date losses in a single trading session. The dramatic rise followed the company's better-than-expected fiscal first-quarter 2027 earnings report, which showed revenue of $1.39 billion (up 33% YoY) and non-GAAP earnings of $0.39 per share, both beating consensus estimates. Management raised its full-year product revenue guidance to $5.84 billion, implying 31% growth. Additionally, Snowflake announced a five-year, $6 billion deal with Amazon Web Services (AWS) covering AI workloads and deepened integrations. The company also revealed it would acquire Natoma, an enterprise platform for governing AI agents. The moves repositioned Snowflake as a core data infrastructure provider for enterprise AI, shifting investor perception from a slowing software story.
Yahoo FinanceSnowflake Surges 35% on AI Deal and Earnings Beat, Fueling Software Rally
Snowflake shares surged 35% on Thursday, heading for their best day ever, after the software company announced a $6 billion AI compute deal with Amazon and topped fiscal first-quarter earnings estimates. The company is expanding its use of Amazon's in-house chips for AI. Finance chief Brian Robins said AI tools like Cortex Code are driving a 'step function change' in AI revenue potential and boosting internal productivity. Snowflake also raised its guidance, expecting a 12.5% adjusted operating margin on $1.415-$1.420 billion in product revenue, above analyst expectations. The strong results alleviated fears of a 'SaaSpocalypse' where AI tools would replace software-as-a-service, lifting other software stocks including ServiceNow (up 5%), Oracle, and Palantir (both up over 3%). Salesforce bucked the trend, remaining flat after lackluster guidance. Snowflake also announced the acquisition of AI startup Natoma and added 616 net new customers in the quarter, with 46 crossing the $1 million spending benchmark.
US Top News and AnalysisSnowflake stock soars on growing enterprise AI demand, AWS partnership
Snowflake (SNOW) stock surged 36% on Thursday, its best day on record, after reporting better-than-expected fiscal first-quarter results driven by accelerating enterprise AI demand. Revenue grew 33% year-over-year to $1.39 billion, with AI products contributing to the strongest sequential product revenue dollar growth in company history. The company announced a new multiyear, $6 billion agreement with Amazon Web Services (AWS) to accelerate global enterprise AI adoption, and deepened its partnership with OpenAI. WedBush Securities analyst Dan Ives reiterated an Outperform rating and raised his price target from $270 to $280, noting the software landscape is in the early innings of AI monetization. The broader iShares Expanded Tech-Software ETF (IGV) rebounded 24% since mid-April as investors grow bullish on AI beneficiaries, reversing earlier fears that AI could disrupt traditional software business models.
Yahoo FinanceSnowflake Surges on Strong Q1, Natoma Acquisition, and AWS Deal; Google Employee Charged with Fraud
Snowflake (SNOW) shares surged 35% premarket after reporting fiscal Q1 2027 earnings that beat estimates, with revenue of $1.39B (+33% YoY) and adjusted EPS of $0.39. The company raised its full-year revenue guidance to $5.84B, above consensus. Snowflake also announced plans to acquire Natoma for secure AI connectivity and a $6B, five-year deal with Amazon Web Services for compute and AI spend. Separately, a Google software engineer faces federal fraud charges for allegedly using insider information to place a $1.2M bet on Polymarket. Ohio announced a pause on tax incentives for future data center projects to assess economic impact.
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