Snowflake raises revenue forecast and partners with Anthropic for AI enhancements

Snowflake has raised its annual product revenue forecast to $3.43 billion for 2025, up from $3.36 billion. The company also reported strong third-quarter results, with total revenue of $942.1 million, exceeding estimates. In a new partnership with AI firm Anthropic, Snowflake will enhance its cloud services using advanced AI models. This collaboration aims to help customers develop AI applications that can analyze data and create visualizations. Snowflake's shares rose about 19% in after-hours trading following these announcements. The company continues to focus on integrating AI into its offerings amid growing competition in the tech sector.