Snowflake Shares Soar on Q1 Earnings Beat and Massive $6 Billion AWS Deal

Snowflake's stock surged over 30% after the data cloud provider delivered a strong fiscal first-quarter earnings beat and announced a new $6 billion, five-year spending commitment to Amazon Web Services (AWS). The massive infrastructure deal will significantly expand Snowflake's use of Amazon's custom Arm-based Graviton processors, allowing the company to run its rapidly growing agentic AI and data workloads with higher performance and cost efficiency.

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