Snowflake SNOW is benefiting from accelerating product revenue growth, rising AI adoption, and expanding consumption of its AI Data Cloud. This momentum strengthens the company's position in enterprise data and AI markets while improving its ability to compete for technology spending against Dell Technologies DELL and Oracle ORCL. The company's fiscal second-quarter performance was driven by consumption across its core platform, with product revenues representing the majority of results. Product revenues rose 37% to $1.49 billion and accounted for 96% of total revenues in the fiscal second quarter 2026. SNOW's accelerating product revenue reflects strength across both its core platform and newer AI offerings.
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