AI momentum powers broader business gains
Snowflake is channelling significant attention toward its AI strategy as adoption continues to accelerate. CoCo, the company’s AI coding agent, is approaching the 10,000-account milestone, sitting at 9,100 accounts, with 2,000 of those added in this quarter alone.
CEO Sridhar Ramaswamy notes: “With product revenue of US$1.49bn, up 37% year-over-year… Snowflake continues to power the enterprise AI revolution.”
As part of that AI-led push, global customer satisfaction has also improved. 1Password and Indeed were cited as clients who selected Snowflake as the “foundation” for their data and AI transformation. The quarter also saw 692 new customers join the platform, marking a 34% YoY increase, 14 of whom feature on the Forbes Global 2000 list.
Sridhar continues: “AI is compounding Snowflake’s core advantage. First, as enterprises modernise their data estates for AI, demand for our core platform continues to scale.
“Second, AI is creating a new frontier for what Snowflake can deliver. Our breakout products, CoCo and CoWork, continue to see rapid adoption, now used by 9,100+ and 5,800 accounts, respectively.
“Third, accounts using these AI products drive an uplift in overall platform consumption, accelerating the flywheel effect of the Agentic Enterprise.”
Snowflake’s expanding product portfolio has also contributed to its growth. Building on the 330 product releases made in H1, this quarter introduced Cortex Sense and Cortex AI Gateway, both using AI to action insights through an integration with Natoma.
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