Home / Snowflake News: Plans, Acquisitions, Revenue, & Olympic Deal

Snowflake News: Plans, Acquisitions, Revenue, & Olympic Deal

By: Jasmin Espinas

Updated: August 28, 2025

Published: June 10, 2025

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Snowflake holds a competitive foothold in enterprise IT. In recent Snowflake news, the company’s stock jumped due to the increasing demand for its AI products.

Alongside the planned sale, Snowflake has made headlines with its new acquisition, passed the $1 billion revenue mark, and secured a deal for the 2028 LA Olympics.

Latest Snowflake News: Snowflake Stock Jumps as AI Growth Drives Data Platform Demand

Snowflake shares rose roughly 19% on Thursday, August 28, driven by rising demand for its artificial intelligence database products.

This surge reflects growing interest from companies looking to upgrade their data infrastructure and reduce the complexity of AI integration.

If the stock gains hold, it could add over $12.5 billion to Snowflake’s $67 billion market cap.

The company – known for its cloud-based data warehousing platform – helps enterprises manage large-scale datasets across multiple cloud providers.

Snowflake said adoption of its platform is accelerating as more organizations shift toward AI-driven operations.

According to Richard Clode, portfolio manager at Janus Henderson Investors, which owns shares in Snowflake, the company is positioned to benefit from both cloud migration and enterprise AI rollouts.

Clode also noted that Snowflake’s modern data architecture supports companies working to integrate AI alongside next-generation platforms.

Snowflake Chairman Frank Slootman Plans to Sell $600M of Stock

Frank Slootman, Snowflake’s former CEO and current chairman, intends to sell over $600 million worth of company stock.

Snowflake Chairman Plans to Sell Over $600 Million of Stock https://t.co/MADrK8exQt

— Barron’s (@barronsonline) June 8, 2025

The plan, disclosed in a recent SEC filing, follows a sharp rise in Snowflake’s share price, up 37% in 2025 alone.

Also, the sale will occur under a Rule 10b5-1 trading plan adopted by Slootman on March 26.

This agreement outlines the sale of up to 3,024,562 shares, triggered automatically based on conditions like timing, share volume, and price.

These preset terms are designed to comply with insider trading laws by removing discretionary control over the transactions.

As of June 6, the planned shares carry a total estimated value of $638 million, based on that day’s $210.84 closing price. However, the final amount will vary.

Some shares will be withheld to cover taxes. At the same time, adjustments will account for rounding of restricted stock units once they have vested.

This Snowflake news hasn’t resulted in any executed trades yet. An earlier plan remains active, and the company has not commented on either plan.

Slootman has also not made any public statements regarding his intent.

Snowflake News: Snowflake Acquires Crunchy Data in $250M AI Infrastructure Deal

In another Snowflake news, Snowflake has agreed to acquire Crunchy Data for around $250 million. This acquisition aims to expand its efforts to support developers building AI agents and applications.

We are excited to announce that Crunchy Data is joining @Snowflake to bring Postgres to the AI Data Cloud. 🎉https://t.co/enjrNuAERe https://t.co/bJYtLwV14P

— Crunchy Data (@crunchydata) June 2, 2025

The acquisition adds a cloud-native PostgreSQL platform to Snowflake’s portfolio, one that already serves enterprise and public sector clients needing managed database infrastructure.

This move reinforces Snowflake’s push to compete directly with Databricks, which recently announced its purchase of database startup Neon for $1 billion.

Crunchy Data’s team of about 100 employees will join Snowflake following the close of the deal. The company will operate under a new offering called Snowflake Postgres.

According to Snowflake’s VP of Engineering, Vivek Raghunathan, the goal is to streamline how developers deploy and scale data-powered tools while maintaining flexibility beyond prototype-level experimentation.

Organizations now want tailored AI agents trained on proprietary data, and Snowflake is positioning itself to deliver that infrastructure.

Alongside competitors like Nvidia and OpenAI, Snowflake aims to achieve long-term relevance in enterprise AI.

Snowflake News: Snowflake Hits $1B Revenue Mark as Shares Reach 52-Week High

Snowflake shares rose 12% on May 22 after the company posted stronger-than-expected results for the first fiscal quarter of 2026.

The stock reached its highest price since early last year, reflecting investor response to the company’s performance and updated guidance.

In this round of Snowflake news, revenue reached $1.0 billion, a 26% increase from $828.7 million in the same quarter a year ago. This marked the first time Snowflake crossed the billion-dollar mark in quarterly sales since its public debut in 2020.

The company also reported adjusted earnings of 24 cents per share, above the 21-cent estimate from LSEG.

Despite the improved top-line performance, Snowflake posted a net loss of $430 million, or $1.29 per share, compared with a $317 million loss last year.

Still, analysts pointed to encouraging signs. Cantor Fitzgerald emphasized the closure of two $100 million contracts that had previously been delayed, which helped ease earlier concerns about customer churn.

Snowflake Named Official Data Partner for 2028 LA Olympics

Snowflake has been named the official data provider for the 2028 Olympic and Paralympic Games in Los Angeles, as well as for Team USA.

The announcement, made on May 27, places the company at the center of a multi-year effort to improve data infrastructure behind the scenes of one of the world’s largest sporting events.

Under the agreement, Snowflake’s platform will support centralized access to athlete performance data, training inputs, and medical records.

Snowflake stated that its software allows Team USA to organize and share this information efficiently across departments and staff, with the goal of providing athletes with better support throughout their preparation cycles.

This partnership also covers digital fan engagement. Snowflake’s tools will allow organizers to integrate data from multiple sources, helping Team USA develop more personalized experiences for supporters.

Whether it’s ticketing activity, social media behavior, or broadcast viewing habits, the data will be used to refine how the team communicates with its audience.

According to John Usher, CEO of U.S. Olympic and Paralympic Properties, the partnership will continue evolving as both organizations move toward 2028.

He also noted that data accessibility and collaboration are central to their plans to operate more efficiently and reach their innovation targets.

Conclusion

Snowflake’s 19% stock rise reflects accelerating demand for its AI-focused data platform, especially as more enterprises prioritize scalable infrastructure for machine learning and analytics. This momentum points to real traction in how the product is being adopted.

However, its performance going forward will depend on how well it can balance adoption with efficiency.

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