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    "headline": "Snowflake Shares Rally 26% on AI-Driven Revenue Beat",
    "dek": "Snowflake stock jumped 26% after reporting a 37% rise in product revenue driven by AI demand.",
    "prose": "Snowflake shares jumped 26% to $384 after the company reported a 37% rise in product revenue for the quarter ended July, surpassing Wall Street expectations. [^1]\n\nSnowflake shares jumped 23% on Thursday after the cloud data platform lifted its fiscal 2027 product revenue forecast to $6.07 billion, up from $5.84 billion. [^2]\n\nFor the quarter ended July, Snowflake's product revenue rose 37% year-on-year to $1.49 billion, driven by strength in its core data platform and a meaningful increase in AI-related revenue. [^3]\n\nSnowflake reported adjusted earnings of 62 cents per share, comfortably above analysts' expectations of 45 cents per share. [^4]\n\nSnowflake's updated outlook predicts $6.07 billion in product revenue for the fiscal year ending in January, fueled by increased AI and cloud platform adoption. [^5]\n\nCEO Sridhar Ramaswamy said artificial intelligence tools are now driving growth across Snowflake's core platform, not just its standalone AI products. [^6]\n\nServiceNow, Salesforce, Atlassian, Adobe, and Intuit all climbed between 3.5% and 6% following the report. [^7]",
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