Snowflake's Cortex Code Drives Fastest Product Adoption, Lifts Growth Outlook

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โดย Yahoo Finance·Read original
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Snowflake's product revenue growth accelerated to 34% year-over-year, driven by the rapid adoption of its new AI coding assistant Cortex Code, or CoCo. Management raised the full-year growth outlook from 27% to 31%, citing CoCo as the largest driver of the increased forecast. The tool is now in use at more than 7,100 accounts and is seeing the fastest adoption of any new product in the company's history. Executives say CoCo dramatically speeds up development, with one partner building a complex application in just five hours, and it also boosts consumption of Snowflake's core data platform. While new AI products carry lower gross margins, the company plans to maintain its overall 75% product gross margin target for the year through other efficiencies.

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Cortex Code adoption drives fastest product adoption and lifts growth outlook

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