Snowflake Surges 37% on Thursday on Better-Than-Expected Results and AWS Deal

GateNews
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According to FactSet, Snowflake soared 37% on Thursday after reporting quarterly sales and profit more than 20% above Wall Street forecasts. The company also announced a five-year, $6 billion computing capacity contract with Amazon Web Services, which will help it access lower-priced AI infrastructure and preserve its 75% adjusted product profit margin amid growing AI product sales.
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