Descriptions:
Snowflake CEO Sridhar Ramaswamy speaks with Bloomberg Technology following the company’s strongest quarter on record: product revenue of $1.334 billion, up 34% year-over-year, with a net revenue retention rate of 126% and full-year guidance raised to 27-31% growth. The stock jumped roughly 34-35% on the day. Ramaswamy frames the results as proof that AI is now visibly compounding Snowflake’s core data platform advantage — a significant narrative shift from earlier fears that generative AI would disrupt or cannibalize data warehouse vendors.
Two products are central to the growth story. Snowflake Intelligence, the company’s agentic work product, has seen adoption double in recent quarters. A coding agent referred to in the interview is now active across more than 7,000 customer accounts. Ramaswamy gives a concrete productivity example: Snowflake’s own data team cleared a multi-year backlog within a small number of quarters using internal AI tooling, and he describes using the platform in real time at conferences to instantly surface context on dozens of incoming meetings.
The interview also covers Snowflake’s $6 billion infrastructure commitment to Amazon Web Services — one of the largest cloud partnership deals announced this year. Ramaswamy characterizes the deal as enabling bulk purchasing economies of scale that Snowflake can pass through to customers as lower AI pricing, and describes deep co-selling collaboration with AWS CEO Matt Garman. The conversation also briefly touches on Snowflake’s acquisition of Neeva-adjacent AI data management capabilities and potential further M&A.
📺 Source: Bloomberg Technology · Published May 28, 2026
🏷️ Format: Interview
