November 20, 2024: Snowflake Soars on Earnings, Acquisition, AI Partnership - Snowflakes shares surged over 20% after surpassing earnings expectations and announcing a strategic AI partnership with Anthropic and acquiring Datavolo, a data integration startup. The company reported an increased revenue forecast and stronger operating margins, despite widening losses. The acquisition aims to enhance data pipeline versatility, while the Anthropic partnership strengthens Snowflakes AI capabilities. These developments signify Snowflakes commitment to innovation and growth amid the rising demand for cloud data solutions and AI workloads, although its stock remains down for the year.
