How might Snowflake's revenue mix change in coming quarters?

**Snowflake's revenue mix is likely to continue evolving in the coming quarters**, driven by several key factors:

1. **Growth in Product Revenue**: Snowflake has demonstrated strong growth in product revenue, with a 27.8% increase in Q4 product revenue over the previous year. This trend is expected to continue, supported by the company's strategic focus on network effects and its consumption-based business model.
2. **Upside from AI Integration**: The company's recent integration of OpenAI's models directly in Snowflake Cortex AI is likely to drive demand for its cloud services. This strategic move positions Snowflake to capitalize on the growing trend of businesses adopting AI-powered solutions.
3. **Expansion in the Cloud Market**: Snowflake's data cloud has seen strong adoption, particularly from firms leveraging AI services. As more businesses migrate to cloud-based solutions, Snowflake is well-positioned to benefit from this trend.
4. **Regional and Industry-Specific Solutions**: Snowflake's growth in industry-specific solutions and its expanding market presence suggest that it is effectively tapping into new revenue streams. This diversification is likely to contribute to a more balanced revenue mix.
5. **Strategic Partnerships**: Snowflake's partnerships, such as with Anthropic, are expected to enhance its product offerings and market reach. These collaborations could lead to new revenue opportunities and a more diversified revenue base.

In conclusion, Snowflake's revenue mix is expected to become more diversified and weighted towards product revenue, driven by strategic initiatives, market trends, and technological advancements.