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Snowflake Inc. - SNOW STOCK NEWS

Welcome to our dedicated page for Snowflake news (Ticker: SNOW), a resource for investors and traders seeking the latest updates and insights on Snowflake stock.

Snowflake Inc., founded in 2012, is a pioneering company in the realm of cloud-based data warehousing and analytics. Based in Silicon Valley, the company set out to revolutionize the data warehouse and succeeded by creating a unified cloud service that integrates all users, data, and workloads. Snowflake's innovative solutions make data storage, processing, and sharing seamless, enabling enterprises to gain valuable insights from their data efficiently.

With its data lake technology, Snowflake stores unstructured and semi-structured data, which can be analyzed and transformed into actionable insights within its powerful data warehouse. The company’s data sharing capability stands out, allowing businesses to buy and integrate data almost instantly, compared to traditional methods that take months.

Snowflake serves over 3,000 customers, including nearly 30% of the Fortune 500 companies. It supports multiple public clouds, ensuring flexibility and scalability for diverse business needs. The company went public in 2020, marking a significant milestone in its journey.

Backed by leading venture capital firms such as Redpoint Ventures, Sutter Hill Ventures, and Wing Ventures, Snowflake boasts a team of experts with over 120 patents in database architecture, query optimization, and parallelization. The company continuously seeks top talent in various fields including distributed systems engineering, database engineering, user interface, user experience, quality assurance, technical support, and technical writing.

Snowflake's commitment to innovation and excellence has positioned it at the forefront of the data warehousing industry, making it a key player for businesses seeking cutting-edge data solutions.

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Snowflake (NYSE: SNOW) has announced it will release its financial results for the third quarter of fiscal year 2025 after U.S. markets close on November 20, 2024. The company will host a conference call at 3 p.m. Mountain Time on the same day to discuss the results. Investors can join via phone at (833) 470-1428 (Access code: 722726). The call will be webcast live on Snowflake's Investor Relations website, with an audio replay available for 30 days after the event.

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ServiceNow (NOW) and Snowflake (SNOW) announced a Zero Copy partnership to connect enterprise-wide data for solving mission-critical problems. The integration will enable customers to trigger ServiceNow workflows directly from Snowflake and support bi-directional Zero Copy data sharing between platforms. The partnership will enhance GenAI experiences by leveraging Snowflake Cortex AI predictive and generative models, allowing users to find answers faster and self-serve insights. This integration augments the launch of Workflow Data Fabric, unifying business and technology data across enterprises for AI-fueled productivity.

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Snowflake Inc. (NYSE: SNOW) has priced a private placement of $2.0 billion in Convertible Senior Notes, split equally between 0% notes due 2027 and 2029. The company expects net proceeds of approximately $1.97 billion, which will be used to:

1. Pay for capped call transactions
2. Repurchase about $400 million of its Class A common stock
3. Fund general corporate purposes

The notes will be convertible to cash, Snowflake common stock, or a combination, at an initial conversion rate of 6.3492 shares per $1,000 principal (equivalent to $157.50 per share, a 40% premium). Snowflake also entered into capped call transactions to reduce potential dilution and offset cash payments above the principal amount upon conversion.

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D.A. Davidson & Co. has announced its role as the exclusive financial advisor to Night Shift Development, Inc. in its sale to Snowflake Inc. (NYSE:SNOW). Night Shift, a U.S.-based data infrastructure and analytics company, was founded by CEO Tim Tutt and COO Drew Hayes, both experts in serving the U.S. national security community. The company's ClearQuery platform enables rapid data analysis using natural language queries, catering to users of all skill levels.

This acquisition allows Snowflake to establish a dedicated entity focused on the U.S. public sector, expanding its capabilities in working with public sector organizations. The transaction highlights D.A. Davidson's Technology Investment Banking practice's success, having completed over 115 transactions worth approximately $21 billion since 2020.

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Snowflake (NYSE: SNOW) has launched the AI Data Cloud for Travel and Hospitality, combining its data platform, AI capabilities, and industry-specific solutions to deliver advanced data insights for the sector. This unified platform aims to streamline AI and ML development, provide top-tier security, and democratize data access.

The AI Data Cloud addresses key industry trends and use cases, including dynamic pricing, sustainability tracking, reputation management, and performance advertising. It enables businesses to build and optimize outcomes such as hyper-personalized marketing, improved customer experience, loyalty program enhancement, efficient operations, and maximized revenue management.

Snowflake's partner ecosystem facilitates data enrichment via Snowflake Marketplace, allowing integration of third-party data sources. Major companies like Hyatt and Tripadvisor are already using Snowflake's AI Data Cloud to improve data-driven decision-making and enhance guest experiences.

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Snowflake (NYSE: SNOW) announces plans to offer $2.0 billion in Convertible Senior Notes through a private placement. The offering includes $1.0 billion due 2027 and $1.0 billion due 2029, with options for additional $150 million for each series. The notes will be convertible into cash, Snowflake's Class A common stock, or a combination thereof.

Snowflake intends to use the proceeds to:

  • Fund capped call transactions to reduce potential dilution
  • Repurchase up to $575 million of common stock
  • General corporate purposes, including potential acquisitions

The company expects these transactions may impact its stock price. The offering is subject to market conditions and is only available to qualified institutional buyers.

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Snowflake (NYSE: SNOW), the AI Data Cloud company, has announced its participation in the Goldman Sachs Communacopia + Technology Conference. Chief Financial Officer Mike Scarpelli will represent the company, presenting on Thursday, September 12th, at 9:30 a.m. PT.

Investors and interested parties can access the event webcast through the investor relations section of the Snowflake website. The presentation will be available for viewing at https://investors.snowflake.com and will remain accessible on the site for 30 days following the event.

This conference appearance provides an opportunity for Snowflake to showcase its latest developments and financial outlook to a broader audience of investors and industry professionals.

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Snowflake (NYSE: SNOW) reported strong financial results for Q2 FY2025. Product revenue reached $829.3 million, up 30% year-over-year. The company's net revenue retention rate was 127%, with 510 customers generating over $1 million in trailing 12-month product revenue. Snowflake now serves 736 Forbes Global 2000 customers. Remaining performance obligations grew 48% year-over-year to $5.2 billion. The company authorized an additional $2.5 billion for stock repurchases through March 2027. CEO Sridhar Ramaswamy highlighted strong product innovation and early traction in AI products. For Q3 FY2025, Snowflake projects product revenue between $850-$855 million, representing 22% year-over-year growth. The full-year FY2025 product revenue guidance was raised to $3,356 million, a 26% increase.

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Snowflake (NYSE: SNOW), the AI Data Cloud company, has announced it will release its financial results for the second quarter of fiscal year 2025 on Wednesday, August 21, 2024, after the U.S. markets close. The company will host a conference call to discuss the results at 3 p.m. Mountain Time on the same day. Investors can join the call by dialing (833) 470-1428 (Access code: 788782). International participants can find global dial-in numbers on Snowflake's website. The call will also be webcast live on the Snowflake Investor Relations website. An audio replay will be available for 30 days after the call.

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Snowflake has announced a partnership with Meta to host the Llama 3.1 collection of open-source large language models (LLMs) in Snowflake Cortex AI. This includes Meta's largest model, Llama 3.1 405B, optimized for inference and fine-tuning with a 128K context window. Snowflake's AI Research Team has developed a Massive LLM Inference and Fine-Tuning System Stack, offering up to 3x lower latency and 1.4x higher throughput than existing solutions. The system enables fine-tuning on a single GPU node, reducing costs and complexity for developers.

Snowflake is also making Cortex Guard generally available, leveraging Meta's Llama Guard 2 to ensure AI safety. This collaboration aims to provide enterprises with efficient and trusted access to state-of-the-art AI models, supporting various use cases including real-time inference, high-throughput processing, and long context support.

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FAQ

What is the current stock price of Snowflake (SNOW)?

The current stock price of Snowflake (SNOW) is $172.42 as of December 2, 2024.

What is the market cap of Snowflake (SNOW)?

The market cap of Snowflake (SNOW) is approximately 57.5B.

What does Snowflake Inc. do?

Snowflake Inc. provides cloud-based data warehousing and analytics solutions, enabling businesses to store, process, and share data efficiently.

When was Snowflake Inc. founded?

Snowflake Inc. was founded in 2012.

Who are Snowflake Inc.'s customers?

Snowflake Inc. serves over 3,000 customers, including nearly 30% of the Fortune 500 companies.

What are Snowflake's core technologies?

Snowflake's core technologies include cloud-based data lakes and data warehouses, which store unstructured and semi-structured data for analytics.

What makes Snowflake's data sharing feature unique?

Snowflake's data sharing capability allows businesses to buy and integrate data almost instantly, compared to traditional methods that take months.

What public clouds does Snowflake support?

Snowflake supports various public clouds, providing flexibility and scalability for different business needs.

When did Snowflake go public?

Snowflake went public in 2020.

Who are some of Snowflake's investors?

Snowflake is backed by leading venture capital firms such as Redpoint Ventures, Sutter Hill Ventures, and Wing Ventures.

Where is Snowflake Inc. headquartered?

Snowflake Inc. is headquartered in Silicon Valley, with a growing team in the San Francisco Bay Area.

What type of talent is Snowflake looking for?

Snowflake seeks talent in distributed systems engineering, database engineering, user interface, user experience, quality assurance, technical support, and technical writing.

Snowflake Inc.

NYSE:SNOW

SNOW Rankings

SNOW Stock Data

57.52B
319.85M
4.58%
61.43%
3.51%
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