Snowflake Surges 36% in Record Jump Following $6B Amazon AI Partnership

Key Facts

Amid the accelerating global race for generative AI, Snowflake shares surged 36% to close at $239.20 on May 28, 2026 (up from $175.26), marking the company's largest single-day gain since it went public in 2020. The rally followed a strategic $6 billion, five-year partnership with Amazon Web Services (AWS) — more than double the prior $2.5 billion agreement struck in 2023 — to accelerate AI-driven data growth.

Fiscal Q1 results topped expectations, with revenue of $1.39 billion, up 33% year over year, while the company raised its full-year product revenue guidance to roughly $5.84 billion (about +31%) for the fiscal year ending January 2027. The print marked a sharp turn in sentiment for a stock that had been sliding into the report, as enterprises continue to commit large budgets to data and AI infrastructure.

Traders will watch whether the momentum holds at current levels after the record jump. On the macro front, markets await US consumer confidence data, which could influence risk appetite across the high-growth software sector.