Snowflake earnings beat as Goldman Sachs sees AI upside
By Celine Provini
Published on March 5, 2026.
Snowflake, a cloud-based data platform company known for its AI data cloud platform, topped Wall Street expectations in Q4, largely due to accelerating adoption of artificial intelligence. Goldman Sachs highlighted the potential for the company's new offering, Cortex Code, which is embedded directly into developer workflows and has already attracted over 4,400 users. The company also announced a $400 million-plus multi-year deal with a financial services customer, the largest in company history. Goldman expects customer expansion and increased adoption of cloud RDBMS migrations driven by AI. However, analysts also highlighted potential risks to IT spending or cloud spending.
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