New York, February 3, 2026, 05:33 EST — Premarket
- Snowflake shares gained 1.3% in premarket action after dropping roughly 1% on Monday
- The company announced a $200 million partnership with OpenAI and launched new AI tools in London
- Investors are turning their attention to the Feb. 25 results, followed by an investor conference slot on March 3
Snowflake shares climbed 1.33% to $193.22 in Tuesday’s premarket, rebounding from a nearly 1% drop the previous day when the stock ended at $190.68.
The reason this matters now is straightforward: investors need evidence that the company’s AI efforts translate into actual paid usage, not just flashy new features. The stock tends to react sharply to revenue forecasts and any signs of customer hesitation, especially as earnings approach.
Snowflake announced it will release its fourth-quarter and full-year fiscal 2026 earnings on Feb. 25, after U.S. markets close. The company will hold a conference call at 3 p.m. Mountain time.
A major development in AI comes from a new partnership with OpenAI. Snowflake announced a multi-year, $200 million deal that integrates OpenAI models directly into its platform for customers. “Customers can now harness all their enterprise knowledge in Snowflake,” said Sridhar Ramaswamy. Fidji Simo added, “This partnership brings our advanced models directly into that environment.” Business Wire
At an event in London, Snowflake rolled out new product updates, including a “semantic” layer tool alongside an AI coding agent. The semantic views aim to standardize business metrics in simple terms, preventing analytics tools and AI agents from clashing over definitions like “revenue” or “active user.” “AI is quickly becoming part of the operating fabric of the enterprise, not a side project,” Christian Kleinerman said in a statement. Business Wire
Traders now face the immediate question: will these announcements accelerate enterprise purchases, or simply shore up renewals? Snowflake’s model depends heavily on consumption-based spending, meaning even minor changes in customer usage can quickly influence guidance.
Snowflake revealed in a filing with the U.S. Securities and Exchange Commission that Jeremy Burton stepped down from its board as of Jan. 30, tied to the company’s Feb. 2 acquisition of Observe, Inc. The company clarified the departure wasn’t due to any disagreement.
Snowflake unveiled the Observe acquisition in early January, framing it as a step into “observability” — tracking software systems through logs, metrics, and traces — with a focus on open standards. This move positions Snowflake alongside established players like Datadog and Dynatrace. Snowflake
The company added that Brian Robins and Ramaswamy are scheduled to present at Morgan Stanley’s Technology, Media & Telecom Conference on March 3.
Product launches alone won’t secure a smooth quarter. AI features often need time to fully deploy in big firms, while competitors like Databricks are advancing their own agent-style tools. That increases the chance Snowflake’s latest offerings might just become table stakes.
The next major event is Feb. 25, when investors will focus on guidance and any insights into AI-driven usage. They’ll also watch closely for early signs that the OpenAI partnership is starting to yield paid deployments.
