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What does Snowflake do and what are its main business segments?

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- **Revenue Growth Accelerates**: Q3 product revenue up 29% YoY to $1.16 billion, driven by AI and data engineering workloads.
- **AI Adoption Soars**: $100 million AI revenue run rate achieved 1 quarter early, with 1,200 customers using Snowflake Intelligence.
- **Strong Margins and Cash Flow**: 11% operating margin, 75.9% gross margin, and $4.4 billion cash reserves.
- **Customer Expansion**: 615 new logos and 50% of bookings incorporating AI, signaling enterprise-wide adoption.
- **Strategic Momentum**: Partnerships with SAP, Anthropic, and zero-copy data sharing drive ecosystem leadership.

**【CEO Summary Section】**
- Product revenue reached $1.16 billion, up 29% year-over-year, driven by core business growth and AI workloads.
- Remaining Performance Obligations (RPO) totaled $7.88 billion, growing 37% YoY, with 615 new customers added.
- AI revenue run rate hit $100 million, 1 quarter ahead of schedule, with 1,200 customers using Snowflake Intelligence.
- 50% of Q3 bookings included AI, and 28% of use cases incorporated AI, reflecting strong customer adoption.
- Strategic partnerships with SAP, Workday, and Anthropic expanded ecosystem integration and go-to-market reach.

**【CFO Financial Commentary】**
- Non-GAAP product gross margin was 75.9%, with operating margin expanding 450 basis points to 11%.
- Q4 guidance: Product revenue $1.195-$1.2 billion (27% YoY growth), FY26 product revenue $4.446 billion (28% YoY growth).
- Free cash flow margin target of 25% for FY26, with $233 million used for share repurchases in Q3.
- Cash reserves of $4.4 billion support strategic investments and growth initiatives.

**【Q&A Highlights】**
- Snowflake Intelligence adoption accelerated, with 7,300 accounts using AI weekly and 1,200 customers leveraging agentic AI capabilities.
- AI influenced 50% of new bookings, with use cases spanning finance, manufacturing, and customer engagement.
- Zero-copy data sharing partnerships (e.g., ServiceNow, SAP) enhance ecosystem collaboration and customer value.
- Migrations from legacy systems contributed to growth, with Datometry acquisition streamlining data migration processes.
- FY26 guidance raise reflects confidence in consumption-based model and customer retention (125% NRR).

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