Snowflake and C3.ai both reported earnings after the September 2 close, but Snowflake's stock jumped 16.6% the next day while C3.ai gained only about 3.6%, highlighting a stark contrast in AI demand. Snowflake's fiscal second-quarter product revenue reached $1.49 billion, up 37%, with remaining performance obligations rising 30% to $9.0 billion and net revenue retention at 126%. The company also reported over 9,100 accounts using its CoCo coding agent and 5,800 using its CoWork enterprise agent, indicating AI is expanding consumption on its data platform. In contrast, C3.ai reported $52.4 million in revenue, positive free cash flow of $2.1 million, and a non-GAAP operating loss of $36.2 million, which improved 33% sequentially, but revenue still fell roughly 25% year over year. C3.ai's bookings rose 73% from the prior quarter, yet its short interest stood at 42.14% of float as of August 14, reflecting a structural bearish overhang. Snowflake's AI adoption is already scaling its consumption engine, while C3.ai must restore revenue growth and sustain margins to gain similar confidence.
Snowflake Inc.Snowflake's product revenue up 37% and AI adoption expanding consumption on its platform.
C3 Ai IncC3.ai reported revenue decline and improved margins but positive cash flow; mixed results with structural bearish overhang.
NVIDIA Corporation