Tag: $Snowflake Inc.

Snowflake Inc shares fell 3% in Tuesday’s premarket session after the cloud computing company outlined plans to raise $2 billion in debt, as new CEO Sridhar Ramaswamy pushes forwards with plans to capitalize on the rise of artificial intelligence technologies.

However, shares of the firm fell more than 7% in extended trading. D.A. Davidson analyst Gil Luria attributed the drop to the company not pairing the rise in revenue projections with a rise in margin forecast.

In its first quarterly report since announcing the surprise departure of its chief executive, Snowflake Inc. upped its full-year forecast, to the delight of Wall Street.

Snowflake said CEO Frank Slootman, who took the company public in 2020, is retiring.

Snowflake shares were gaining ground Wednesday after the cloud data warehouse software company posted better-than-expected results for the quarter ended Oct. 31.

Snowflake  stock rose in late trading after the firm topped earnings expectations. Its outlook for the current quarter was a touch too light.

Nvidia announced Monday that it is partnering with Snowflake to offer generative AI technology to the cloud-based data warehousing company’s customers.

Shares of Snowflake Inc. sank nearly 13% in after-hours trading Wednesday after the data-software company topped expectations with its latest results but cut its outlook for the full year.