Snowflake signs US$6bn AWS deal for enterprise AI workloads
Snowflake has raised its product revenue forecast for fiscal 2027 after reporting stronger-than-expected quarterly revenue, with the Snowflake AWS deal adding a US$6 billion infrastructure commitment for enterprise AI workloads on Amazon Web Services.
The company now expects fiscal 2027 product revenue of US$5.84 billion, up from its earlier forecast of US$5.66 billion. It also projected second-quarter product revenue of between US$1.415 billion and US$1.420 billion. Analysts had expected US$1.37 billion, according to LSEG data cited in the company’s earnings coverage.
Snowflake’s first-quarter revenue reached US$1.39 billion, above the US$1.32 billion expected by analysts. Product revenue rose to US$1.33 billion, representing 33.9% year-over-year growth. Its shares rose 36% in extended trading after the forecast update.
AWS deal covers US$6bn infrastructure commitment
Alongside the earnings update, Snowflake announced a five-year agreement with AWS valued at US$6 billion. The agreement is tied to a multi-year infrastructure commitment to AWS, which Snowflake described...
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