Snowflake (SNOW) Raises FY27 Revenue Guidance to $5.84B as AI Accelerates Sales Growth

Snowflake (SNOW) lifted its fiscal 2027 product revenue forecast to $5.84 billion on May 27, 2026, as artificial intelligence-driven demand fueled a 33% year-over-year revenue jump. The raised outlook implies 31% growth, up from a prior 27% forecast, after the data cloud company beat Wall Street expectations for the first quarter. Core product revenue accelerated 34%, marking a second consecutive quarter of accelerating sales growth. CEO Sridhar Ramaswamy said AI is “compounding Snowflake’s strengths in data,” crediting an AI-native sales reorganization and a pipeline of new product releases. DA Davidson analyst Gil Luria called it a “milestone quarter.” The stock surged following the report, joining peers Dell, Hewlett Packard Enterprise, and Cisco that have posted AI-fueled revenue reacceleration. Snowflake’s sales have exceeded 30% growth in three of the last four quarters.