Snowflake Ranked #1 on 2023 Fortune Future 50 List

Rhea-AI Summary

Snowflake (NYSE: SNOW) has been recognized as the number one company on the 2023 Fortune Future 50 list. The company's Data Cloud platform has been instrumental in transforming the data industry, enabling organizations to connect to critical data and applications. Snowflake's focus on generative AI and its potential to reshape industries has been acknowledged by Fortune. The company's market potential and capacity to deliver against that potential have been key factors in securing the top spot on the list.

Annual Fortune list recognizes Snowflake as the leading company with the capability to deliver sustained long-term growth in the era of generative AI

No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)-- Snowflake (NYSE: SNOW), the Data Cloud company, today announced that it was awarded the number one spot on the 2023 Fortune Future 50 list. The annual list from Fortune recognizes leading publicly traded companies based on a market-based assessment of a company’s growth potential, and its capacity to deliver against that potential. Among the focuses of this year’s list includes companies driving the future with generative AI.

Snowflake has transformed the data industry with Snowflake Data Cloud, a global network that connects organizations to the data and applications most critical to their business. The Data Cloud enables a wide range of possibilities, from creating a real-time data backplane for the modern enterprise, collaborating over content with partners and customers, integrating external data and applications for fresh insights, to simplifying the complexity of generative AI - all from Snowflake’s single, cross-cloud platform. This accolade from Fortune is a testament to the incredible opportunity ahead as Snowflake empowers customers across industries to more easily mobilize data and AI for business value.

“In this new AI era, generative AI and large language models will reshape how we live, work and do business. But there is no AI strategy without a data strategy,” said Sridhar Ramaswamy, SVP of AI at Snowflake. “We are honored to be named at the top of Fortune’s Future 50 list and look forward to continuing to help customers solve their biggest problems and deliver real value using AI.”

To identify the Future 50, the BCG Henderson Institute examined more than 1,000 publicly traded companies with at least $20 billion in market value or $10 billion in revenue in the 12 months through the end of 2022. Thirty percent of a company’s score is based on market potential—defined as its expected future growth as determined by financial markets. The remaining 70% is based on a company’s capacity to deliver against this potential, which comprises 19 factors, selected for their ability to predict growth over the following five years, which fall into four categories: strategy, technology and investments, people, and structure.

Learn More

• Join Snowflake’s annual developer conference, BUILD, December 5-6. Register for the virtual event here.
• Read how Snowflake Cortex is providing customers with fast, easy, and secure LLM-powered app development in this blog post.
• Stay on top of the latest news and announcements from Snowflake on LinkedIn and Twitter.

About Snowflake

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, power data applications, and execute diverse AI/ML and analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 647 of the 2023 Forbes Global 2000 (G2K) as of October 31, 2023, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205878318/en/

Media Contact

Danica Stanczak

Global Corporate Communications Lead, Snowflake

press@snowflake.com

Source: Snowflake Inc.

FAQ

What is Snowflake's ticker symbol?

Snowflake's ticker symbol is SNOW and it is listed on the New York Stock Exchange (NYSE).

What is the Fortune Future 50 list?

The Fortune Future 50 list recognizes leading publicly traded companies based on a market-based assessment of a company’s growth potential and its capacity to deliver against that potential.

What factors contributed to Snowflake's recognition on the Fortune Future 50 list?

Snowflake's market potential and its capacity to deliver against that potential, including strategy, technology and investments, people, and structure, were key factors in securing the top spot on the list.

What is Snowflake's Data Cloud platform?

Snowflake's Data Cloud platform is a global network that connects organizations to critical data and applications, enabling a wide range of possibilities, including real-time data backplane, collaboration over content, integration of external data and applications, and simplifying the complexity of generative AI.

How can I learn more about Snowflake's offerings and events?

You can join Snowflake’s annual developer conference, BUILD, and stay updated on the latest news and announcements from Snowflake on LinkedIn and Twitter.