Snowflake is leaning on data engineering expertise to grow its enterprise footprint as businesses seek returns on their generative AI investments.
The company built out integrations with enterprise software giants, major model builders and hyperscalers during the third quarter of its 2026 fiscal year, driving up consumption of its AI and data cloud services, CEO Sridhar Ramaswamy said during a Wednesday earnings call.
The company saw revenue increase 29% to $1.2 billion during the three months ending Oct. 31, while remaining performance obligations — contracts for future revenues from services not yet delivered — ballooned 37% to nearly $8 billion.
Ramaswamy touted zero-copy data sharing agreements with Salesforce, SAP, ServiceNow and Workday as key revenue boosters — “win-wins” that “continue to drive our broader mission to be at the center of all of the data needs that our customers have.” He also pointed to an expanded alliance with Accenture, which rolled out plans for a dedicated Snowflake business unit Wednesday.
“As we deepen our strategic partnerships with the world's leading cloud service providers, AI model developers, SaaS providers and global system integrators, we're unlocking new levels of performance, accessibility and AI-driven insight for our customers,” Ramaswamy said.
Enterprise AI adoption, which Ramaswamy said influenced half of Snowflake’s Q3 bookings, is central to the company’s multivendor data strategy.
“At the core of our AI philosophy is customer choice and flexibility, empowering organizations to leverage the world's leading models securely on their own enterprise data,” said Ramaswamy.
The company will use Anthropic models to power its Snowflake Intelligence agentic assistant as part of a $200 million partnership expansion announced Wednesday. Snowflake leveraged the LLM builder’s Claude 3.5 Sonnet for an initial agentic AI foray earlier this year and currently has Claude-powered engineering and sales team assistants deployed in-house.
Hyperscaler relationships are another growth pillar for Snowflake. The company doubled its AWS Marketplace revenue year over year to $2 billion for calendar year 2025, according to a Wednesday announcement.
AWS recognized Snowflake’s Marketplace impact with 14 partner awards Monday, including global data and analytics part of the year, global generative AI tool partner of the year, and global infrastructure partner of the year.
Snowflake drafted its current channel chief, SVP of Alliances and Channels Chris Niederman, from the hyperscaler’s executive team in July. Niederman served an 11-year tenure at AWS, most recently as managing director of the AWS industries and solutions team.
