Snowflake’s share price dipped despite strong Q3 results, driven by AI’s need for clean data. Revenue climbed 29% to $1.21 billion, beating estimates, with product revenue up 29% to $1.16 million. Adjusted EPS rose to $0.35. The company’s net revenue retention rate was 125%. Snowflake’s AI revenue hit $100 million, exceeding projections. It added 615 new customers, with AI accounting for half of bookings. Snowflake raised full-year product revenue forecast to $4.446 billion, up 28% YoY. While the stock looks reasonably valued, it’s a stock to watch as it continues to slide.

Read more at Nasdaq: Snowflake Shares Melt. Is It Time to Buy the Stock on the Dip?