(Reuters) – Snowflake on Wednesday raised its annual product revenue forecast, betting on robust demand for its data cloud and analytics platform, and announced a partnership with artificial intelligence firm Anthropic.
Shares of the company jumped around 13% in extended trading.
The company now expects product revenue of $3.43 billion for 2025, compared with its previous forecast of $3.36 billion.
Snowflake’s data cloud has been seeing strong adoption from enterprises looking to use AI-powered services to organize swathes of data.
The company on Wednesday also announced a multi-year partnership with Anthropic to let its customers use the AI firm’s large language models to develop and enhance their own AI applications.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar)
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