Summary
Snowflake CEO Sridhar Ramaswamy joined Bloomberg Tech to discuss a standout quarter in which the company posted $1.49 billion in product revenue, up 37% year-over-year, while expanding operating margins by 400 basis points to 15%. Approximately half of the quarter’s outperformance relative to guidance was attributed directly to AI, with Sridhar describing a flywheel effect: AI usage drives more data onto Snowflake, which increases consumption across the platform.
At the center of the AI growth story is Coco, Snowflake’s coding agent for data work. Unlike competitors that charge per-user subscriptions, Coco is bundled into Snowflake’s consumption model at no additional cost, and the company publishes benchmarks showing it makes data tasks five to ten times faster than off-the-shelf models. Snowflake added 2,000 new accounts in the quarter, with customers like Indeed and United Rentals cited as enterprise deployments at scale. A secondary product, Cowork, was also referenced as part of the data platform ecosystem.
Sridhar addressed competition from Databricks — which has reported 80% growth and crossed $7 billion in ARR — positioning Snowflake’s advantage as a more governed, enterprise-trusted platform versus Databricks’ developer-centric model. The company raised its full-year revenue guidance by 5% to 36% growth, while downplaying below-consensus RPO figures as a timing artifact expected to normalize in Q4.
📺 Source: Bloomberg Tech · Published September 03, 2026
🏷️ Format: Interview
