On May 28, Snowflake surged 35.57% in pre-market trading, trading at $237.26/share with trading volume of $8.27 million. The rally was driven by a combination of better-than-expected Q1 fiscal 2027 earnings and a landmark $6 billion strategic partnership with Amazon Web Services.

Snowflake reported Q1 adjusted EPS of $0.39, significantly beating the consensus estimate of $0.32, while revenue rose 33% year-over-year to $1.39 billion versus expectations of $1.32 billion. The company raised its full-year product revenue guidance from $5.66 billion to $5.84 billion, well above the Street estimate of $5.67 billion, and issued strong Q2 product revenue guidance of $1.415-$1.420 billion versus the $1.37 billion consensus.

Simultaneously, Snowflake announced a five-year, $60 billion agreement with AWS — averaging approximately $1.2 billion annually — to expand its use of Graviton processors and AI-related GPU resources. This represents an exponential increase from the prior $2.5 billion framework, signaling surging AI-driven infrastructure demand and reinforcing Snowflake's position as a critical data platform in the enterprise AI ecosystem.

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