Snowflake Raises Fiscal 2027 Product Revenue Forecast on AI Demand
Snowflake said AI features are driving demand, with Cortex Code and CoWork adding thousands of accounts. The company raised its fiscal 2027 product revenue forecast to $6.07 billion from $5.84 billion, citing customer growth and expanding backlog. Second-quarter product revenue rose 37% to $1.49 billion and results beat estimates.