Artificial intelligence in focus yet again as Snowflake has signed a big deal with AWS.
Shares of Snowflake (NYSE:SNOW | SNOW Price Prediction) are rocketing higher on Thursday morning, with the stock up 35% to around $240 after the company posted a blowout Q1 FY2027 report and unveiled a $6 billion multiyear deal with Amazon‘s (NASDAQ:AMZN) AWS (Amazon Web Services).
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Artificial intelligence (AI) data cloud company Snowflake has made a $6 billion multiyear infrastructure commitment to AWS as part of a new strategic collaboration agreement between the two companies. With this agreement, the companies aim to accelerate enterprise agentic AI adoption by helping their joint customers around the world build and deploy AI, Snowflake said in a Wednesday (May 27) press release.
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