Estée Lauder Sues Jo Malone Over Trademark Dispute Involving Zara 
Qantas Raises International Fares as Middle East Conflict Drives Jet Fuel Costs Higher 
US Lawmakers Raise Security Concerns Over Intel Testing ACM Research Chipmaking Tools 
SoftBank Seeks Up to $40 Billion Loan to Fund Major Investment in OpenAI 
Big Tech Signs White House Pledge to Fund Power for AI Data Centers 
Nissan, Uber, and Wayve Team Up to Launch Robotaxi Pilot in Tokyo 
UBS Seeks Legal Protection Over Credit Suisse's Nazi-Era Banking Activities 
Lockheed Martin Invests $150M in Alabama Missile Production Facility 
Nvidia Sets $4M CEO Bonus Target for Fiscal 2027 as AI Demand Drives Revenue Growth 
Amazon Engineers Investigate AI-Linked Outages as GenAI Coding Tools Raise Reliability Concerns 
Oracle Stock Surges as AI Data Center Boom Drives Revenue Beat and Bullish 2027 Outlook 
Pokemon Pokopia Sells 2.2 Million Copies in Four Days, Boosting Nintendo Switch 2 Momentum 
Anthropic Sues Pentagon Over AI Blacklist, Citing Free Speech Violations 
Big Tech Turns to Debt Markets to Fund AI Infrastructure Boom 
Microsoft Backs Anthropic in Legal Fight Against Pentagon's AI Blacklist 
California Court Rejects xAI Bid to Block AI Data Transparency Law 
UK Regulators Demand Social Media Platforms Strengthen Children's Age Verification 
Snowflake projected fiscal 2027 product revenue above Wall Street expectations, highlighting strong enterprise demand for artificial intelligence and cloud-based data analytics solutions. The cloud data platform provider said it expects product revenue of $5.66 billion for the fiscal year ending January 31, 2027, surpassing analysts’ average estimate of $5.50 billion, according to LSEG data. Despite the upbeat forecast, Snowflake shares dipped about 2% in extended trading as investors remained cautious about the broader software sector amid concerns that AI adoption could disrupt traditional software demand.
As enterprises increasingly migrate workloads to the cloud and invest in AI-driven applications, companies like Snowflake are benefiting from growing demand for scalable data infrastructure. CEO Sridhar Ramaswamy noted that the company’s Snowflake Intelligence agentic platform, launched in November, has already been adopted by more than 2,500 customers. He also revealed that Snowflake secured its largest deal ever, valued at over $400 million, though the client was not disclosed.
For the first quarter, Snowflake forecast product revenue between $1.26 billion and $1.27 billion, exceeding analysts’ midpoint estimate of $1.23 billion. The company expects fiscal 2027 product gross margins of 75%, compared to 75.8% reported in fiscal 2026.
Snowflake, which competes with Databricks in the AI and data analytics space, has strengthened its enterprise AI capabilities through two separate multi-year $200 million partnerships with OpenAI and Anthropic. These agreements aim to integrate advanced AI models into its platform and accelerate enterprise AI adoption.
The company also announced the $600 million acquisition of app-monitoring platform Observe to enhance troubleshooting and performance monitoring across software and data systems. Snowflake’s fourth-quarter product revenue rose about 30% year over year to $1.23 billion, beating estimates of $1.18 billion, while adjusted earnings per share of 32 cents topped expectations of 27 cents.
