Snowflake Inc. (SNOW) shares surged 5.04% in intraday trading on Wednesday, outperforming the broader market. The soaring stock price was driven by positive sentiment around the cloud computing industry, following Salesforce's upbeat results and outlook, which highlighted the growing demand for AI-integrated products.

Salesforce, a leading customer relationship management software provider, reported better-than-expected third-quarter revenue and raised its fiscal year 2025 revenue guidance. The company's optimistic outlook was fueled by the success of its newly launched AI-integrated product, Agentforce, which has already secured 200 deals despite being made generally available in late October.

The positive sentiment surrounding Salesforce's AI integration spilled over to other cloud companies, including Snowflake. Investors are optimistic about the potential for AI to drive growth and innovation in the cloud computing industry, leading to a surge in demand for companies like Snowflake that offer data management and analytics solutions.