15 AI News That Should Not Be Ignored

11. Snowflake Inc. (NYSE:SNOW)

Market Capitalization: $41.40 billion

Snowflake Inc. (NYSE:SNOW) is a cloud-native platform that develops database architecture, data warehouses, query optimization, and parallelization solutions. The company is benefiting from the boom in artificial intelligence as data warehouses are a critical component in making AI useful for enterprises.

On November 11, KeyBanc analyst Eric Heath lowered the firm’s price target on Snowflake Inc. (NYSE:SNOW) to $150 from $168 and kept an “Overweight” rating on the shares. The price reduction comes from short-term challenges in storage and ETL revenue linked to Iceberg adoption. The adoption of Iceberg, a tool that helps manage large amounts of data more efficiently, could potentially reduce the need for Snowflake’s storage and ETL (extract, transform, load) services. KeyBanc further revealed that it conducted its quarterly Snowflake survey of 15 partners and customers to keep track of spending intentions, product traction, Iceberg adoption, GenAI interest, and competitive dynamics. The survey results reveal that Snowflake is increasingly strategic, with a strong interest in new products, especially GenAI. However, customers are only expecting to increase their spending with Snowflake by 10% over the next year.