This former telecom wreck now has $13 billion in AI contracts. Here's why it's still under the radar.
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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Snowflake committed to spend $6 billion on AWS over five years, including the use of Amazon's custom Graviton processors.
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Snowflake stock soared amid Q1 earnings and revenue that topped estimates. The software maker hiked full-year sales guidance.
Snowflake is bolstering its investment on Amazon Web Services, including purchase of its custom Arm-based Graviton chips and graphics processing units. Amazon said Snowflake has committed to spending $6 billion on AWS over five years.