Business
Snowflake Shares Surge 40% on Record Product Revenue Amid AI Acceleration, AWS Deal Expansion
📅 May 27, 2026 21:00 ET
⏱ 2 min
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GazetaDay Editorial
Snowflake Inc. shares soared toward a record gain on Wednesday after the cloud data platform reported an earnings beat, raised its full-year outlook, and announced a $6 billion commitment to expand its partnership with Amazon Web Services (AWS).
Earnings and Revenue Highlights
Snowflake posted product revenue that reached an all-time high in the latest quarter, driven by accelerating demand for artificial intelligence (AI) workloads. The company’s adjusted earnings per share surpassed analyst estimates, while total revenue growth was fueled by increased customer spending on data analytics and AI applications. Management also lifted its product revenue guidance for the full fiscal year.
AWS Partnership Expansion
The company disclosed a $6 billion multi-year agreement to deepen its collaboration with Amazon’s cloud unit, AWS. The expanded partnership will focus on integrating Snowflake’s data cloud platform more deeply with AWS infrastructure to support AI and machine learning workloads. The deal marks one of the largest cloud partnership commitments in the sector this year.
Market Context
As of May 27, 2026, the U.S. dollar traded at 70.90 Russian rubles (down 0.77), the euro at 82.72 rubles (down 0.58), Bitcoin at $74,424 (down 1.9% over the past 24 hours), and Brent crude oil was estimated at approximately $72 per barrel.
SnowflakeAWSAI accelerationproduct revenuecloud computingstock surgeearnings beat