Snowflake Inc. - SNOW STOCK NEWS

Snowflake (NYSE: SNOW) has announced its agreement to acquire Datavolo, a platform specializing in multimodal data pipeline management. The acquisition aims to enhance Snowflake's capabilities in the 'bronze layer' of data lifecycle and simplify data engineering workloads. Datavolo, powered by Apache NiFi technology used by over 10,000 enterprises, will be integrated into Snowflake's platform to provide a unified connectivity solution for structured and unstructured data. The integration will enable customers to replace complex point-to-point connectors with flexible, reusable pipelines in Snowflake's AI Data Cloud.

Snowflake (SNOW) reported strong Q3 FY2025 results with total revenue of $942.1 million, up 28% year-over-year. Product revenue reached $900.3 million, growing 29% YoY. The company maintained a net revenue retention rate of 127% and now serves 542 customers with trailing 12-month product revenue exceeding $1 million, representing 25% growth. Remaining performance obligations grew 55% YoY to $5.7 billion. For Q4 FY2025, Snowflake expects product revenue between $906-911 million, representing 23% YoY growth, and projects full-year FY2025 product revenue of $3.43 billion, up 29% YoY.

Snowflake (NYSE: SNOW) announced an expanded partnership with Microsoft, introducing a new Snowflake Power Platform connector that enables bidirectional data access between Dataverse and Snowflake's AI Data Cloud. The integration allows Microsoft Power Platform developers to build AI applications using Snowflake data with minimal coding effort, while maintaining data security and governance. The connector will simplify data collaboration between Microsoft Power Platform, Dynamics 365, and Snowflake's AI Data Cloud.

Data access from Snowflake AI Data Cloud to Dataverse and Microsoft Power Platform is currently in public preview, with access from Dataverse to Snowflake expected in early 2025.

Snowflake announced new innovations at BUILD 2024 to enhance cross-cloud collaboration for enterprise data and AI. The company introduced the Internal Marketplace, now generally available, allowing teams to discover and share data, apps, and fine-tuned LLMs within organizations. Key features include Copilot for Listings, an AI assistant for data evaluation, and Secure Model Sharing for model distribution and monetization. The Native App Framework Integration with Snowpark Container Services streamlines app development, while the new Egress Cost Optimizer helps reduce data transfer costs. Snowflake Marketplace now offers 220+ apps and 2,500+ datasets, with enhanced security features for Virtual Private Snowflake users.

Snowflake announced new AI capabilities at BUILD 2024 to help enterprises deliver trusted AI solutions. Key innovations include enhanced multimodal conversational app development, improved natural language processing pipelines, and Container Runtime support for ML training on distributed GPUs. The company reported that adoption of Cortex AI has more than doubled in the past six months.

New features include multimodal support for images, Microsoft SharePoint integration, document preprocessing functions, and over 20 metrics for AI app evaluation. The platform now offers expanded LLM options, serverless fine-tuning, and provisioned throughput for batch processing.

Snowflake (NYSE: SNOW) announced new platform advancements at BUILD 2024 to help enterprises manage data and AI more effectively. Key developments include the general availability of Snowflake Open Catalog, which enables integration of new engines and governance controls across Apache Iceberg implementations, and Document AI, which extracts insights from PDFs using natural language. The company also introduced enhanced security features through the Snowflake Horizon Catalog, including Leaked Password Protection and Programmatic Access Tokens, along with new Storage Lifecycle Policies to help organizations better manage storage costs and compliance.

Snowflake announced the general availability of Hybrid Tables on AWS as part of its Unistore platform, enabling unified transactional and analytical data management. This innovation allows organizations to perform fast, high-concurrency point operations for transactional workloads while maintaining analytical capabilities in a single platform. Hybrid Tables intelligently identify query types to optimize performance, running double-digit millisecond point operations alongside analytical queries. Major companies including Siemens AG, Mutual of Omaha, and Panther are already implementing this technology to simplify their data architectures while maintaining security and governance standards.

Snowflake (NYSE: SNOW) announced Snowflake Intelligence, a new platform enabling enterprises to interact with their data using natural language and create data agents for analysis and action. The platform integrates with various data systems and tools like Salesforce, Slack, and Google Workspace under a single governance layer.

Powered by Snowflake Cortex AI, the platform features serverless large language model inference, fine-tuning, and text-to-SQL capabilities. It's integrated with Snowflake Horizon Catalog, providing enterprise-grade compliance, security, and privacy features across clouds and regions.

Snowflake (NYSE: SNOW) has announced its participation in the UBS Global Technology and AI Conference. Chief Executive Officer Sridhar Ramaswamy will deliver a presentation on Tuesday, December 3rd at 2:55 PM Mountain Time. Interested parties can access the event webcast through Snowflake's investor relations website, where it will remain available for 30 days following the presentation.