Snowflake's 20.27% Surge Drives $10B in Trading Volume, Ranking Third in Market Activity as AI-Boosted Earnings and Guidance Lift Investor Confidence

Snowflake (NYSE: SNOW) surged 20.27% on August 28, 2025, with a trading volume of $10 billion, marking a 172.67% increase from the prior day and ranking third in market activity. The rally followed the cloud data company’s Q2 2026 earnings report, which revealed $1.1 billion in revenue—a 32% year-over-year (YOY) jump—and a 125% net revenue retention rate. The firm also raised its full-year product revenue guidance to $4.4 billion, up from $4.3 billion, citing strong customer growth and AI-driven demand.

CEO Sridhar Ramaswamy highlighted AI as a core growth driver, emphasizing Snowflake’s AI data cloud and public preview of Snowflake Intelligence, a platform enabling natural language interaction with enterprise data. The company added 48 high-value customers (those spending over $1 million annually) and expanded its total customer base to 12,062, reflecting a 19% YOY increase. Investors reacted favorably to the upbeat guidance and metrics, with shares climbing over 20% in premarket trading.

The stock’s performance drew attention to cloud and AI-focused ETFs, as Snowflake’s AI-powered infrastructure gains traction. Analysts noted the valuation remains elevated, with a forward P/E of 178.57, but cited the broader AI infrastructure boom as a tailwind. The rally underscores growing confidence in Snowflake’s ability to capitalize on enterprise data modernization amid heightened demand for AI tools.

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