Snowflake shares surge on rosy forecast, AI deal with Anthropic

The company, whose shares have fallen 35% this year, was set to add about $10 billion to its market value of $43.3 billion, if premarket gains hold. The Bozeman, Montana-based company’s results come months after Sridhar Ramaswamy took over as CEO, having previously spearheaded Snowflake’s AI strategy as SVP of AI, and analysts have been since watching how the firm’s AI efforts are progressing under the new leadership. Snowflake announced a partnership with Anthropic on Wednesday, which will allow its customers to enhance their AI applications using Anthropic’s large language models on Snowflake’s cloud-based data platforms.