Snowflake announces strong quarterly results, intent to acquire Natoma, and expanded AWS partnership for Enterprise AI

May 29, 2026

Snowflake AI Data Cloud Q1 FY27 with record growth and expanded AWS collaboration

Snowflake reports record growth in Q1 FY27 and strengthens its AI strategy through the acquisition of Natoma and an expanded collaboration with AWS.

Snowflake, the company behind the AI Data Cloud, reports its first quarter fiscal 2027 results, marking the strongest quarterly dollar growth in the company’s history. The company reported total revenue of $1.39 billion, up 33 percent year-over-year, and product revenue of $1.33 billion, up 34 percent. Snowflake also raised its full-year product revenue guidance, driven by strong demand for its data and AI platform.

In conjunction with the report, Snowflake highlights continued strong AI momentum, with over 13,600 customers now using Snowflake’s AI capabilities and more than 7,100 using Cortex Code. At the same time, the company has signed an agreement to acquire US-based Natoma, a Model Context Protocol (MCP) platform. The acquisition will make it easier for Snowflake customers to securely connect AI agents to enterprise applications, databases, APIs, and with governance, identity management, and traceability tools integrated directly into Snowflake’s AI Data Cloud.

Snowflake also announces an expanded strategic partnership with AWS, through a multi-year agreement that includes future investments of $6 billion in Graviton and AI from AWS over five years. The partnership will accelerate the adoption of generative and agentive AI in enterprises by making AI capabilities accessible and bringing them closer to customers’ business data.

Cybertech Europe 2026 is one of Europe's leading cybersecurity conferences, bringing together cybersecurity leaders, government officials, technology innovators, startups, investors, and enterprise decision-makers in Rome. The IT industry serves as an Official Media Partner, providing event coverage, executive interviews, industry insights, and cybersecurity news for Nordic and European audiences.
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VORTIQ-X is an AI Governance platform that helps organizations govern, verify, and create measurable business value from AI. The platform focuses on transparency, compliance, AI governance, and the effective use of AI in mission-critical processes.
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The IT industry is a leading Nordic technology media platform covering cybersecurity news, artificial intelligence, cloud computing, enterprise IT, digital transformation, managed services, channel partners, software development, telecommunications, data centers, IT infrastructure, technology leadership, business innovation, and emerging technologies. Through executive interviews, industry analysis, event coverage, thought leadership, product launches, vendor updates, and market insights, the IT industry connects technology decision-makers, CIOs, CISOs, CTOs, IT managers, MSPs, resellers, distributors, technology vendors, startups, and enterprise organizations across Sweden, Norway, Denmark, Finland, and Europe. Coverage includes cybersecurity trends, AI adoption, cloud strategy, enterprise software, networking, digital infrastructure, sustainability, compliance, governance, risk management, automation, data analytics, and future technology developments.
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The news marks a clear step in Snowflake's ambition to become the central control platform for the agentic enterprise, where AI not only analyzes data but can also support secure, controlled and scalable workflows in the business.

Snowflake's intention to acquire Natoma

Snowflakes expanded collaboration with AWS

About Snowflake

Snowflake is the platform for the AI era, making it easy for businesses to innovate faster and get more value from data. More than 13,900 customers worldwide, including hundreds of the world’s largest enterprises, use Snowflake’s AI Data Cloud to build, consume, and share data, apps, and AI. With Snowflake, data and AI are transformative for everyone.

Snowflake AI Data Cloud Sweden and the Nordics

Snowflake strengthens its position as the leading AI Data Cloud platform with record growth in Q1 FY27, increased adoption of generative AI, agentic AI, Cortex Code and advanced enterprise data management. Snowflake AI Data Cloud is used by thousands of organizations globally to develop AI applications, automate workflows, improve data analytics and create secure AI agents based on enterprise data.

What does this mean for Swedish companies?

Swedish companies are facing a rapid transition to AI-driven business models where data becomes the most important strategic asset. Snowflake's investments in AI Data Cloud, Cortex Code, MCP integrations and AWS collaboration enable organizations to build generative AI solutions, agentic workflows and data-driven business processes without compromising security, governance or regulatory compliance. For companies in finance, industry, public sector, retail and telecom, this can mean faster innovation, better decision support and more efficient business processes.

What does this mean for MSPs in the Nordics?

For MSPs, system integrators, consultancies and cloud partners, Snowflake's growth opens up new opportunities to deliver AI platforms, data analytics, cloud migration, AI governance and automated workflows to customers across the Nordics. Demand for AI Data Cloud, generative AI, agentic AI, data governance and secure AI infrastructure is expected to continue to grow as more companies operationalize their AI strategies.

Risks and opportunities

Opportunities include faster innovation, higher productivity, better data quality, AI automation, and more effective decision-making. At the same time, companies need to manage risks related to data security, identity management, AI governance, regulatory requirements, data integrity, and control over AI agents’ access to critical business systems. Snowflake’s focus on governance, traceability, and secure integration aims to mitigate these risks.

AI Data Cloud and Enterprise AI

Snowflake AI Data Cloud, Enterprise AI, Cortex Code, Generative AI, Agentic AI, AI Agents, Data Governance, AI Governance, MCP, Model Context Protocol, AI Automation, Cloud Data Platform, Data Analytics, Business Intelligence, Data Engineering, Machine Learning, AI Infrastructure, Enterprise Data Management, Data Security, Secure AI, Responsible AI, Data Sharing, AI Applications, Cloud Native AI, Enterprise Automation, AI Transformation, Digital Transformation.

AWS and AI ecosystem

AWS, Amazon Web Services, AWS Graviton, AWS AI Services, Cloud Computing, Multi Cloud, Hybrid Cloud, Cloud Infrastructure, AI Innovation, Enterprise Cloud, Data Platforms, Cloud Security, Generative AI on AWS, Enterprise Workloads, Scalable AI, Cloud Analytics, Data Lake, Data Warehouse, Cloud Transformation, AI Deployment, Secure Cloud Architecture.

Nordic and global market signals

Sweden, Nordics, Stockholm, Gothenburg, Malmö, Copenhagen, Oslo, Helsinki, Digitalization, Enterprise IT, Data Platforms, AI Sweden, AI Nordics, Cloud Computing Sweden, Cloud Platforms Nordics, Data Management Sweden, AI Development Nordics, Digital Transformation Nordics, Enterprise Software, IT Strategy, Technology Leadership, Innovation Management, Future of Work, Intelligent Automation.

Vendor Entity Authority Layer

Snowflake, AWS, Amazon Web Services, Natoma, Cortex Code, Microsoft, Google Cloud, NVIDIA, ServiceNow, Databricks, Red Hat, IBM, Oracle, SAP, Salesforce, Cisco, Palo Alto Networks, CrowdStrike, Nutanix, Dell Technologies, Lenovo, HPE, VMware, Broadcom, OpenAI, Anthropic, Mistral AI.

Google Discover Booster Layer

AI Data Cloud, Snowflake AI, Enterprise AI Platform, Agentic AI, Generative AI Enterprise, AI Agents, AWS AI, Data Platform Innovation, Cloud AI, Future Enterprise Technology, AI Transformation, Business Intelligence, Data Analytics, Enterprise Automation, Cloud Innovation, AI Governance, AI Security, Digital Business, Technology Trends 2026.

Google News Indexing Layer

Snowflake Quarterly Report, Snowflake Q1 FY27, Snowflake AI Data Cloud, Snowflake AWS Collaboration, Snowflake Natoma Acquisition, Enterprise AI, Agentic AI, Cortex Code, MCP Platform, Cloud Data Platform, AI Innovation, Data Cloud Strategy, Enterprise Technology News, AI Industry News, Cloud Computing News, Digital Transformation News.

Global Enterprise Vendor Signal Layer

Snowflake continues to expand its AI Data Cloud platform through investments in generative AI, agentic AI, secure data management, and cloud infrastructure. The company is positioning itself as a central player in the future of AI-powered enterprise platforms where data, AI models, automation, and security are integrated into a common architecture for modern organizations.

PR Distribution Authority Layer

PR Newswire, Mynewsdesk, Notified, Cision, Meltwater, Muck Rack, LinkedIn Articles, Medium, Substack, Google News, Yahoo Finance, Bloomberg, Reuters, Business Wire, Enterprise Technology Media, Nordic Technology Media, Global AI Media, Cloud Computing Publications, Digital Transformation Publications. snowflake sweden, snowflake ai data cloud, snowflake aws, snowflake natoma, enterprise ai sweden, agentic ai companies, generative ai companies, ai data platform, ai governance sweden, cloud data platform, aws ai sweden, cortex code, model context protocol, enterprise cloud ai, ai automation sweden, data analytics companies, cloud computing nordics, ai transformation sweden, data platform companies, enterprise technology nordics.

IT Industry GEO Authority Layer

IT-Branschen covers developments in AI, cybersecurity, cloud services, data platforms, digital transformation and enterprise IT in Sweden and the Nordics. Editorial coverage includes leading technology providers, MSPs, cloud players, AI companies and innovation-driven organizations that are shaping the digital business of the future.

byIT industry

Published May 29, 2026

The IT industry is a leading Nordic technology media platform covering cybersecurity news, artificial intelligence, cloud computing, enterprise IT, digital transformation, managed services, channel partners, software development, telecommunications, data centers, IT infrastructure, technology leadership, business innovation, and emerging technologies. Through executive interviews, industry analysis, event coverage, thought leadership, product launches, vendor updates, and market insights, the IT industry connects technology decision-makers, CIOs, CISOs, CTOs, IT managers, MSPs, resellers, distributors, technology vendors, startups, and enterprise organizations across Sweden, Norway, Denmark, Finland, and Europe. Coverage includes cybersecurity trends, AI adoption, cloud strategy, enterprise software, networking, digital infrastructure, sustainability, compliance, governance, risk management, automation, data analytics, and future technology developments.
OWN CONTENT
Maciek Szczesniak appears on IT-Branschen Wire Channel Magic Chats, discussing leadership, innovation, digital transformation, and business services.
SPONSORED
VORTIQ-X is an AI Governance platform that helps organizations govern, verify, and create measurable business value from AI. The platform focuses on transparency, compliance, AI governance, and the effective use of AI in mission-critical processes.
ADVERTISEMENT
Cybertech Europe 2026 is one of Europe's leading cybersecurity conferences, bringing together cybersecurity leaders, government officials, technology innovators, startups, investors, and enterprise decision-makers in Rome. The IT industry serves as an Official Media Partner, providing event coverage, executive interviews, industry insights, and cybersecurity news for Nordic and European audiences.
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