Reported about 2 months ago
Snowflake Inc. provided a sales forecast that has left investors uneasy, particularly regarding its position in the artificial intelligence software market. The company's shares fell nearly 7% in extended trading after reporting revenue growth of only 29% to $868.8 million—its slowest pace as a public company. Despite raising its fiscal year sales forecast and claiming success with new AI products, concerns persist over market competition, a recent CEO change, and customer data breaches impacting client confidence.
Source: YAHOO