Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: Snowflake shares surge on strong artificial intelligence demand
Snowflake shares jumped nearly 25% on Thursday to reach their highest level since December 2021 after the company raised its annual product revenue forecast to $6.07 billion. CEO Sridhar Ramaswamy highlighted that artificial intelligence products accounted for about half of the company’s growth acceleration, boosting investor confidence that AI spending is delivering real financial gains for software firms. The strong results sparked a broad rally across the tech sector, lifting shares of major software peers like Salesforce, Adobe, and ServiceNow as Wall Street analysts raised price targets across the board.
