Snowflake delivered strong Q2 results, with accelerating top line growth and robust free cash flow driven by enterprise adoption of its AI Data Cloud. SNOW reported 37% year-over-year product revenue growth, a net retention rate of 126%, and beat consensus on both revenue and non-GAAP EPS. Demand for AI data services and high-margin Cortex AI offerings underpin the case for a premium 20xrevenue multiple and continued upside.
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