Snowflake stock surged after reporting impressive earnings, fueled by AI adoption and outpacing Nvidia’s growth. Snowflake’s revenue grew 32% year-over-year to $1.1 billion last quarter, with a 19% increase in customer base and 50% using AI solutions. This led to an almost doubled adjusted earnings of $0.35 per share. Snowflake’s RPO jumped 33% to $6.9 billion, raising its product revenue forecast to $4.4 billion for fiscal 2026. Analysts expect Snowflake to continue surpassing Nvidia and sustain its growth momentum, with a forecasted total addressable market of $355 billion by 2029.

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