Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.
In this Cloud Wars Minute, Bob Evans details Snowflake’s emphasis on taking part in the generative AI revolution.
00:22 — On its most recent earnings call, Snowflake CEO Frank Slootman talked about the incredible impact that generative AI will have not only on businesses but also on industries. In fact, he noted that generative AI has the potential to make entire industries obsolete.
01:17 — Slootman explained how Snowflake has a strong desire to become a major player in large language models (LLMs). In addition to LLMs, Snowflake is moving aggressively into data science, machine learning (ML), and artificial intelligence (AI). Specifically, there has been a 91% increase in related workloads for Snowflake customers.
02:00 — Additionally, Snowflake is awaiting the acquisition of Neeva, a company that does next-generation searches, powered by LLMs. Flat out, Slootman said, “We will attract tremendous demand” for LLMs.
02:35 — Bob explains that Slootman’s remarks are not meant to bring about “doom and gloom,” but rather, his sentiments reflect the impact that generative AI will have on the business world. Slootman feels that, as businesses get a better sense of these technologies, the impacts will be astonishing. He wants Snowflake right in the middle of the generative AI/LLM revolution.
03:31 — In the near future, Bob will follow up with related material about Snowflake’s Q1 results, but offers a brief overview. For the quarter that ended April 30, product revenue was up 50%, but growth rates started to moderate at the beginning of early April. Snowflake’s guidance for Q2 is 33-34%. For the full year, which ends Jan. 31, Snowflake is projecting a total of 34% growth.