- Snowflake crushed Q1 — revenue +33% YoY — sending shares up ~36% (5-day gains >50%) and committing $6B to Amazon for Graviton chips as demand rockets.
- CEO Sridhar Ramaswamy says AI is starting to sort winners from losers and credits Snowflake’s consumption-based pricing and early AI tools (Cortex Code, Snowflake Intelligence) for its recent momentum.
- He expects SaaS consolidation (fewer big apps, more bespoke tools) and envisions a new “control plane” that acts like a browser to orchestrate AI-driven work.
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