In other news, Snowflake reported better-than-expected third quarter earnings with a net loss of $324.3 million on revenue of $942.09 million. The company also announced the acquisition of open data integration platform Datavolo, which is expected to enhance the creation, management, and observability of multimodal data pipelines for enterprises. For fiscal 2025, Snowflake is projecting $3.43 billion in product revenue, up 29%.
Key takeaways:
- Snowflake has signed a multi-year deal to incorporate Anthropic's Claude models into its Cortex AI, as part of its agentic AI strategy.
- The partnership will see Anthropic's Claude language models used to enhance data agents within Snowflake, and Snowflake's Horizon Catalog will provide controls and guardrails to Claude 3.5 models.
- Snowflake reported better-than-expected third quarter earnings, with a net loss of $324.3 million on revenue of $942.09 million, and non-GAAP earnings of 20 cents a share.
- Snowflake has also acquired open data integration platform Datavolo to add creation, management and observability of multimodal data pipelines for enterprises.