Snowflake Earnings: AI Drives Growth, but AI Revenue Not Disclosed

Snowflake reported Q1 FY2027 revenue of $1.391 billion, up 33% year-over-year, with product revenue growing 34% and net revenue retention at 126%. The company highlighted that AI capabilities like CoWork and CoCo are driving platform usage, but it did not break out AI product revenue. Analysts suggest Snowflake's AI strategy embeds AI into its existing data platform, leveraging enterprise data context and governance rather than competing with foundation models.