Snowflake (SNOW) reported a 29% increase in product revenue to $1.16 billion in Q3 of fiscal 2026, driven by innovative products and strategic partnerships. AI-focused offerings like Snowflake Intelligence and partnerships with Google Cloud and AWS are expanding Snowflake’s market reach.

Snowflake expanded its partnership with Google Cloud to enhance product integration and market strategy, bringing Google Cloud Gemini 3 models into Snowflake Cortex AI. Snowflake anticipates Q4 product revenues of $1.195-$1.2 billion, reflecting a 27% year-over-year growth.

Snowflake faces tough competition from Amazon (AMZN) and Oracle (ORCL) in the AI space. Amazon’s collaboration with Infosys and Oracle’s Fusion Applications AI Agent Marketplace highlight their efforts to accelerate AI adoption across sectors.

Snowflake’s stock performance has outpaced the Computer & Technology sector and Internet Software industry. With a forward 12-month Price/Sales of 13.55X and an expected 44.58% increase in fiscal 2026 earnings, Snowflake’s valuation and growth prospects remain positive. Snowflake currently carries a Zacks Rank #3 (Hold).

Read more at Nasdaq: SNOW’s Robust Portfolio Fuels Revenue Growth: What’s the Path Ahead?