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Snowflake retools data cloud to fuel AI agents, expand integrations
Snowflake retools data cloud to fuel AI agents, expand integrations

Yahoo

time3 days ago

  • Business
  • Yahoo

Snowflake retools data cloud to fuel AI agents, expand integrations

This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Snowflake retooled its data cloud platform through a sweeping set of product updates targeting enterprise agentic AI adoption, the company said Tuesday during its annual Snowflake Summit event. The series of announcements came on the heels of Snowflake's Monday agreement to purchase PostgreSQL startup Crunchy Data. The AI data cloud company rolled out a hybrid multicloud data ingestion service called Snowflake Openflow, the Cortex Knowledge Extensions third-party data mining pipeline and AI-powered natural-language analytics and data science assistants under the Snowflake Intelligence and Data Science Agent rubrics. Snowflake also trumpeted the general availability of its Cortex AISQL agentic querying tool and the SnowConvert AI data modernization copilot designed to help enterprises migrate from legacy warehouses. 'We are making it easy to tap into structured data. We are making it easy to tap into unstructured data as well. And we're helping our customers build a strong foundation to lead in the era of agentic AI,' CEO Sridhar Ramaswamy said last month during the company's Q1 earnings call for the 2026 fiscal year. As enterprises seek business value from generative AI-powered agentic automation, major vendors are racing to deploy the data integrations, modernization tools and pipelines organizations need to fuel the technology. The Crunchy Data acquisition brought AI compliance and scaling capabilities in-house for Snowflake, less than a month after Databricks, a competitor in the AI data cloud space, announced its intent to purchase PostgreSQL startup Neon. 'We're doubling down on the momentum behind Postgres and investing in its future while preserving the openness, the extensibility and developer-first ethos that make it great,' Ramaswamy said during a Monday keynote. As part of its integration strategy, Snowflake connected its data cloud to The Associated Press, USA Today and several other publishers through Cortex Knowledge Extensions that let enterprises feed news and other timely data to AI apps and agents, the company said in a Tuesday announcement. The pipeline creates a marketplace for enterprises to source third-party data while ensuring publishers are compensated. Snowflake Intelligence unifies raw and structured data from spreadsheets, documents, images and databases, using Anthropic and OpenAI large language models. The integration connects the company's data cloud to Google Drive, Salesforce Data Cloud via Zero Copy, Workday and other enterprise vendor platforms, aligning security controls, data masking and governance policies. It will be in public preview soon, the company said. 'There's so much that we take for granted about how things used to work that just aren't true anymore,' Ramaswamy said, pointing to the impact of AI on the enterprise in a keynote conversation with OpenAI CEO Sam Altman. 'We'll be at a point next year where you can not only use a system to automate business processes or build these new products and services, but you can really say, 'I have this hugely important problem in my business, I will throw a ton of compute at it'… and the models will be able to go figure out things that teams of people on their own can't do,' Altman said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Snowflake to expand talent base, mulls R&D center in India
Snowflake to expand talent base, mulls R&D center in India

Time of India

time3 days ago

  • Business
  • Time of India

Snowflake to expand talent base, mulls R&D center in India

Live Events The services industry is going through a major change that will define their future even as roles within organisations such as engineers and salespersons need to be reimagined at the back of AI, said Sridhar Ramaswamy, CEO, Snowflake, an AI data cloud who spoke at the global virtual media round table that ET was a part of before the annual Snowflake Summit on June 3, said that it is clear that AI represents a new way for companies to think about how different functions operate in a company.'We are reimagining what it looks like to be an engineer, or salesperson, all of these roles are going to be affected by AI and many will become more efficient with AI,' he said. As a firm, Ramaswamy said that they are helping its 10,000 customers through this transformation. 'These are no longer IT projects, but transformation projects that will define the future of the company,' he the company, Ramaswamy said that Snowflake is using AI tools extensively in its engineering team and is looking to hire more people from colleges for its engineering and product team to drive the firm's next phase of growth. The company is also investing aggressively in growth as the adoption of AI in enterprises is will also be expanding the talent base, offices, and setting up its research and development center in India, he said. However, he did not share the company is also doubling down on its agentic AI initiatives . It launched Snowflake Intelligence , which helps businesses to analyse data, Data Science Agent for boosting productivity of data scientists. The company said that over 5000 of its customers are using its AI there is momentum, with the company registering $1 billion revenue last quarter, its losses have widened as well. Ramaswamy said that while the firm is investing for growth, to reduce the losses, it is looking to bring down stock-based compensation over the next few years.

Oppenheimer Maintains Outperform Rating on Snowflake (SNOW), Lifts PT
Oppenheimer Maintains Outperform Rating on Snowflake (SNOW), Lifts PT

Yahoo

time26-05-2025

  • Business
  • Yahoo

Oppenheimer Maintains Outperform Rating on Snowflake (SNOW), Lifts PT

On Thursday, Oppenheimer raised its price target on Snowflake Inc. (NYSE:SNOW) to $225 from $210, while maintaining an Outperform rating on the shares. The firm noted that Snowflake delivered strong FQ1 2026 results due to broad-based demand and consistent consumption trends. A software engineer at work, surrounded by a wall of computer monitors connected to a 'Data Cloud' platform. The company reported total revenue of $1 billion for the quarter, which was up 26% year-over-year. Product revenue specifically reached $996.8 million and also represented a 26% year-over-year increase. Snowflake now serves 606 customers with trailing 12-month product revenue greater than $1 million, a 27% year-over-year increase, and has 754 Forbes Global 2000 customers, which reflects a 4% year-over-year growth. Sridhar Ramaswamy, CEO of Snowflake, commented on the results, stating that the company delivered 'another strong quarter.' Oppenheimer also highlighted better-than-expected activity in Snowpark and Dynamic Tables, along with robust AI adoption, as indicators that newer products are resonating well with customers. The firm is bullish on Snowflake and considers it a top pick. Oppenheimer anticipates potential upside, particularly if macroeconomic conditions remain stable. Snowflake Inc. (NYSE:SNOW) provides a cloud-based data platform for various organizations globally. While we acknowledge the potential of SNOW to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNOW and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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