Welcome to our dedicated page for Snowflake news (Ticker: SNOW), a resource for investors and traders seeking the latest updates and insights on Snowflake stock.
Snowflake Inc (SNOW) provides a cloud-native data platform enabling enterprises to manage data warehousing, analytics, and cross-organizational sharing. This news hub offers investors and professionals centralized access to official updates and market-moving developments.
Track Snowflake's latest press releases, earnings reports, and strategic announcements in one location. Our curated feed includes product innovations, partnership agreements, and operational milestones impacting the company's position in cloud computing and data solutions.
Key coverage areas include cloud infrastructure expansions, data security enhancements, and analytics platform upgrades. Stay informed about Snowflake's initiatives in multi-cloud architecture and enterprise data management without vendor lock-in constraints.
Bookmark this page for real-time updates on SNOW's technological advancements and market strategies. Combine our news feed with Snowflake's SEC filings and earnings transcripts for comprehensive investment analysis.
Snowflake Inc. (NYSE: SNOW) has priced a private placement of $2.0 billion in Convertible Senior Notes, split equally between 0% notes due 2027 and 2029. The company expects net proceeds of approximately $1.97 billion, which will be used to:
1. Pay for capped call transactions
2. Repurchase about $400 million of its Class A common stock
3. Fund general corporate purposes
The notes will be convertible to cash, Snowflake common stock, or a combination, at an initial conversion rate of 6.3492 shares per $1,000 principal (equivalent to $157.50 per share, a 40% premium). Snowflake also entered into capped call transactions to reduce potential dilution and offset cash payments above the principal amount upon conversion.
D.A. Davidson & Co. has announced its role as the exclusive financial advisor to Night Shift Development, Inc. in its sale to Snowflake Inc. (NYSE:SNOW). Night Shift, a U.S.-based data infrastructure and analytics company, was founded by CEO Tim Tutt and COO Drew Hayes, both experts in serving the U.S. national security community. The company's ClearQuery platform enables rapid data analysis using natural language queries, catering to users of all skill levels.
This acquisition allows Snowflake to establish a dedicated entity focused on the U.S. public sector, expanding its capabilities in working with public sector organizations. The transaction highlights D.A. Davidson's Technology Investment Banking practice's success, having completed over 115 transactions worth approximately $21 billion since 2020.
Snowflake (NYSE: SNOW) has launched the AI Data Cloud for Travel and Hospitality, combining its data platform, AI capabilities, and industry-specific solutions to deliver advanced data insights for the sector. This unified platform aims to streamline AI and ML development, provide top-tier security, and democratize data access.
The AI Data Cloud addresses key industry trends and use cases, including dynamic pricing, sustainability tracking, reputation management, and performance advertising. It enables businesses to build and optimize outcomes such as hyper-personalized marketing, improved customer experience, loyalty program enhancement, efficient operations, and maximized revenue management.
Snowflake's partner ecosystem facilitates data enrichment via Snowflake Marketplace, allowing integration of third-party data sources. Major companies like Hyatt and Tripadvisor are already using Snowflake's AI Data Cloud to improve data-driven decision-making and enhance guest experiences.
Snowflake (NYSE: SNOW) announces plans to offer $2.0 billion in Convertible Senior Notes through a private placement. The offering includes $1.0 billion due 2027 and $1.0 billion due 2029, with options for additional $150 million for each series. The notes will be convertible into cash, Snowflake's Class A common stock, or a combination thereof.
Snowflake intends to use the proceeds to:
- Fund capped call transactions to reduce potential dilution
- Repurchase up to $575 million of common stock
- General corporate purposes, including potential acquisitions
The company expects these transactions may impact its stock price. The offering is subject to market conditions and is only available to qualified institutional buyers.
Snowflake (NYSE: SNOW), the AI Data Cloud company, has announced its participation in the Goldman Sachs Communacopia + Technology Conference. Chief Financial Officer Mike Scarpelli will represent the company, presenting on Thursday, September 12th, at 9:30 a.m. PT.
Investors and interested parties can access the event webcast through the investor relations section of the Snowflake website. The presentation will be available for viewing at https://investors.snowflake.com and will remain accessible on the site for 30 days following the event.
This conference appearance provides an opportunity for Snowflake to showcase its latest developments and financial outlook to a broader audience of investors and industry professionals.
Snowflake (NYSE: SNOW) reported strong financial results for Q2 FY2025. Product revenue reached $829.3 million, up 30% year-over-year. The company's net revenue retention rate was 127%, with 510 customers generating over $1 million in trailing 12-month product revenue. Snowflake now serves 736 Forbes Global 2000 customers. Remaining performance obligations grew 48% year-over-year to $5.2 billion. The company authorized an additional $2.5 billion for stock repurchases through March 2027. CEO Sridhar Ramaswamy highlighted strong product innovation and early traction in AI products. For Q3 FY2025, Snowflake projects product revenue between $850-$855 million, representing 22% year-over-year growth. The full-year FY2025 product revenue guidance was raised to $3,356 million, a 26% increase.
Snowflake (NYSE: SNOW), the AI Data Cloud company, has announced it will release its financial results for the second quarter of fiscal year 2025 on Wednesday, August 21, 2024, after the U.S. markets close. The company will host a conference call to discuss the results at 3 p.m. Mountain Time on the same day. Investors can join the call by dialing (833) 470-1428 (Access code: 788782). International participants can find global dial-in numbers on Snowflake's website. The call will also be webcast live on the Snowflake Investor Relations website. An audio replay will be available for 30 days after the call.
Snowflake has announced a partnership with Meta to host the Llama 3.1 collection of open-source large language models (LLMs) in Snowflake Cortex AI. This includes Meta's largest model, Llama 3.1 405B, optimized for inference and fine-tuning with a 128K context window. Snowflake's AI Research Team has developed a Massive LLM Inference and Fine-Tuning System Stack, offering up to 3x lower latency and 1.4x higher throughput than existing solutions. The system enables fine-tuning on a single GPU node, reducing costs and complexity for developers.
Snowflake is also making Cortex Guard generally available, leveraging Meta's Llama Guard 2 to ensure AI safety. This collaboration aims to provide enterprises with efficient and trusted access to state-of-the-art AI models, supporting various use cases including real-time inference, high-throughput processing, and long context support.
Snowflake (NYSE: SNOW) announced new advancements in its AI technology at the Snowflake Summit 2024, focusing on Snowflake Cortex AI and Snowflake ML. These enhancements aim to make enterprise AI more accessible, efficient, and secure. Key updates include new chat capabilities through Snowflake Cortex Analyst and Snowflake Cortex Search, allowing users to develop chatbots quickly. Also unveiled were Snowflake Cortex Guard for data security, Document AI for document content extraction, and Snowflake Copilot for text-to-SQL conversion. The new Snowflake AI & ML Studio offers a no-code interface for AI development. Snowflake ML provides unified MLOps capabilities for seamless model and feature management. These innovations help organizations extract more value from their data while ensuring security and governance.
Snowflake (NYSE: SNOW) has unveiled new tools and innovations at its annual user conference, Snowflake Summit 2024, aimed at easing the development of enterprise-grade pipelines, models, and AI-powered applications. The updates include Snowflake Notebooks, Snowflake Trail, and new DevOps tools, all integrated into Snowflake's unified platform. Snowflake Notebooks offers a development interface for Python, SQL, and Markdown, enhancing productivity and collaborative development. The Snowpark pandas API allows Python developers to use familiar syntax within Snowflake's framework. Other notable features are Git integration, a new Database Change Management feature, and advanced observability capabilities provided by Snowflake Trail.
Additionally, Snowflake announced the Snowflake Native App Framework integration with Snowpark Container Services, facilitating the distribution and monetization of AI-powered applications across the Snowflake Marketplace. This initiative supports the rapid prototyping and deployment of AI applications, contributing to greater scalability and market reach. The new advancements are part of Snowflake's commitment to simplifying development and operational workflows for its extensive customer base.