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SAN FRANCISCO, Calif. — Snowflake (SNOW) may have a few more surprising quarters ahead as customers pay for added AI services.
"I think this is the culmination of several quarters of AI really accelerating but turning into more of a flywheel for Snowflake," Snowflake CEO Sridhar Ramaswamy told Yahoo Finance at the Goldman Sachs Communacopia & Tech Conference (video above).
Ramaswamy added that "all the ingredients are there" for the cloud-based data platform business to accelerate in the current "back-to-basics era."
"First of all, a lot more is possible with the same number of software engineers," Ramaswamy said. "It's a question of how we, the team, or how they individually set themselves up to be more productive. And then on the go-to-market side, what has happened is the distance between a data platform like Snowflake and what you would think of as applications … has collapsed in a big way because any of us can now create applications, literally, in a matter of minutes, if not hours."