Snowflake, the company behind the AI Data Cloud, today reported results for the first quarter of fiscal 2027, delivering the largest quarterly dollar growth in the company’s history. Total revenue reached $1.39 billion, up 33 percent year-over-year, while product revenue was $1.33 billion, a 34 percent increase. Snowflake also raised its full-year product revenue guidance, citing strong demand for its data and AI platform.
Snowflake highlighted continued momentum in AI adoption: more than 13,600 customers now use Snowflake’s AI features and over 7,100 use Cortex Code. The company also announced an agreement to acquire the U.S.-based Natoma, a platform for the Model Context Protocol (MCP). The acquisition aims to make it easier for Snowflake customers to securely connect AI agents to enterprise applications, databases and APIs, with governance, identity management and observability built directly into Snowflake’s AI Data Cloud.
Snowflake further disclosed an expanded strategic collaboration with AWS through a multi-year agreement that includes a $6 billion commitment to Graviton and AWS AI initiatives over five years. The partnership is intended to accelerate enterprise adoption of generative and agentic AI by bringing AI capabilities closer to customers’ enterprise data.
These developments reinforce Snowflake’s ambition to be the central control plane for the agentic enterprise, where AI not only analyzes data but also supports secure, governed and scalable workflows across organizations.
Read more:
Snowflake’s Q1 FY27 financial report
Snowflake announces intent to acquire Natoma
Snowflake expands collaboration with AWS
About Snowflake
Snowflake is a platform built for the AI era, helping organizations innovate faster and get more value from their data. More than 13,900 customers worldwide — including hundreds of the largest global enterprises — use Snowflake’s AI Data Cloud to build, deploy and share data, applications and AI. Snowflake enables data and AI to become transformational across organizations.
Snowflake AI Data Cloud in Sweden and the Nordics
Snowflake strengthened its position as a leading AI Data Cloud platform with record growth in Q1 FY27, increasing adoption of generative and agentic AI, Cortex Code usage and advanced enterprise data management. Thousands of organizations worldwide use Snowflake to develop AI applications, automate workflows, improve analytics and create secure AI agents that operate on enterprise data.
What this means for Swedish companies
Swedish businesses face a rapid shift toward AI-driven operating models where data becomes a core strategic asset. Snowflake’s investments in AI Data Cloud, Cortex Code, MCP integrations and the AWS partnership enable organizations to build generative AI solutions, agentic workflows and data-driven processes while maintaining security, governance and regulatory compliance. For industries such as finance, manufacturing, public sector, retail and telecom, this can translate into faster innovation, better decision support and more efficient operations.
What this means for MSPs in the Nordics
For MSPs, system integrators, consultancies and cloud partners, Snowflake’s growth opens opportunities to deliver AI platforms, data analytics, cloud migrations, AI governance and automated workflows to customers across the Nordics. Demand for AI Data Cloud, generative AI, agentic AI, data governance and secure AI infrastructure is expected to rise as more organizations operationalize AI strategies.
Risks and opportunities
Opportunities include faster innovation, higher productivity, improved data quality, AI-driven automation and more effective decision-making. At the same time, organizations must manage risks related to data security, identity management, AI governance, regulatory requirements, data integrity and control over AI agents’ access to critical systems. Snowflake’s emphasis on governance, observability and secure integrations aims to mitigate these risks.
AI Data Cloud and Enterprise AI
Topics: Snowflake AI Data Cloud, Enterprise AI, Cortex Code, Generative AI, Agentic AI, AI agents, Data Governance, AI Governance, MCP (Model Context Protocol), AI Automation, Cloud Data Platform, Data Analytics, Business Intelligence, Data Engineering, Machine Learning, AI Infrastructure, Enterprise Data Management, Data Security, Secure AI, Responsible AI, Data Sharing, AI Applications, Cloud-Native AI, Enterprise Automation, AI Transformation, Digital Transformation.
AWS and the AI ecosystem
Topics: AWS, Amazon Web Services, AWS Graviton, AWS AI Services, Cloud Computing, Multi-Cloud, Hybrid Cloud, Cloud Infrastructure, AI Innovation, Enterprise Cloud, Data Platforms, Cloud Security, Generative AI on AWS, Scalable AI, Cloud Analytics, Data Lake, Data Warehouse, Cloud Transformation, AI Deployment, Secure Cloud Architecture.
Nordic and global market signals
Geographies and themes: Sweden, Nordics, Stockholm, Gothenburg, Malmö, Copenhagen, Oslo, Helsinki, Digitalization, Enterprise IT, Data Platforms, AI Sweden, AI Nordics, Cloud Computing Sweden, Nordic Cloud Platforms, Data Management Sweden, AI Development Nordics, Digital Transformation, Enterprise Software, IT Strategy, Technology Leadership, Innovation Management, Future of Work, Intelligent Automation.
Vendor and partner landscape
Relevant vendors and partners: Snowflake, AWS, Natoma, Cortex Code, Microsoft, Google Cloud, NVIDIA, ServiceNow, Databricks, Red Hat, IBM, Oracle, SAP, Salesforce, Cisco, Palo Alto Networks, CrowdStrike, Nutanix, Dell Technologies, Lenovo, HPE, VMware, Broadcom, OpenAI, Anthropic, Mistral AI.
Editorial and distribution context
Channels and themes: PR distribution, technology media, enterprise news and industry coverage relevant to Snowflake’s platform expansion, AI adoption trends and cloud data strategies.