Snowflake beats revenue estimates, signs $200 million AI deal with Anthropic

Snowflake reported third-quarter revenue above analysts' estimates on Wednesday and signed a $200 million partnership with artificial intelligence firm Anthropic to deepen AI integration across its data cloud platform.

Businesses have been implementing generative AI strategies and building applications that leverage large language models for tasks such as data analysis, automation and customer engagement, benefiting companies such as Snowflake.

The multi-year deal will make Anthropic's Claude models available on the Snowflake platform, enabling enterprises to build generative AI-powered applications and deploy advanced AI agents within Snowflake's governed data environment.


Snowflake reported quarterly revenue of $1.21 billion, compared with analysts' estimates of $1.18 billion according to data compiled by LSEG.