Snowflake Shares Are In Investors’ Focus Today – Why Is Wall Street Upbeat After New Announcement?

• The partnership agreement will also make OpenAI models natively available to Snowflake’s 12,600 global customers. 
• RBC Capital called Snowflake’s deal "positive" and said that it reinforces Snowflake's central role in enterprise AI.
• Raymond James kept an ‘Outperform’ rating on Snowflake after the company’s announcement.

Shares of Snowflake rose and grabbed investor attention after it announced a multi-year partnership with OpenAI. 

At the time of writing, Snowflake shares edged higher and were among the top trending stocks on Stocktwits. 

Deal Details

The multi-year, $200 million partnership agreement cements Snowflake and OpenAI’s commitment to co-innovation and joint go-to-market (GTM) strategies aimed at deploying AI agents across global enterprises.

Snowflake and OpenAI will work closely together to develop and deploy customized AI solutions for joint enterprise customers that deliver tangible return on investment, the statement said. 

The partnership agreement will also make OpenAI models natively available to Snowflake’s 12,600 global customers within Snowflake Cortex AI across all three major clouds. The partnership also enables global organizations like Canva and WHOOP to bring OpenAI models to their enterprise data for deep research and instant insights. 

Wall Street Upbeat

RBC Capital called Snowflake’s deal "positive" and said that it reinforces Snowflake's central role in enterprise AI, builds on its $100 million AI annual recurring revenue momentum, and mirrors its prior Anthropic partnership, highlighting strong growth potential from AI-driven workloads in CY26. RBC Capital has an ‘Outperform’ rating and $300 price target on Snowflake shares.

Raymond James also kept an ‘Outperform’ rating on Snowflake after the company’s announcement.

Snowflake users can now directly access OpenAI models within Snowflake versus previously accessing OpenAI models via Azure OpenAI Services, the analyst told investors in a research note. The firm believes the pact supports its view that large language model providers will ultimately need to partner in order to penetrate the enterprise. 

How Did Stocktwits Users React?

Retail sentiment around SNOW trended in ‘bullish’ territory amid ‘high’ message volume. 

Shares in the company have risen 9% over the past 12 months. 
 

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