Snowflake reported Q1 product revenue growth accelerated to 34% year-over-year, driven by strong adoption of its Cortex Code AI platform and prompting a 35% premarket share surge. Management repositioned the company as an ‘agent control plane’ for enterprise AI orchestration, highlighting immediate AI-driven business growth.
Snowflake’s Q1 product revenue growth accelerated to 34% year-over-year, outpacing prior trends and driving investor enthusiasm. The announcement triggered a 35% surge in premarket trading as the market rewarded the company’s stronger-than-expected top-line performance.
The company highlighted rapid uptake of its Cortex Code platform, which automates code generation and optimizes data workflows, enabling customers to deploy AI workloads more efficiently. Executives cited this tool as the primary catalyst for the acceleration in product revenue growth.
Management unveiled a shift in positioning from experimental AI projects to a full-scale ‘agent control plane’ for enterprise AI orchestration. This new role underscores Snowflake’s strategy to offer a unified layer for managing AI agents and data pipelines at scale.
Finance
