SNOW - Snowflake Inc.

Snowflake showed revenue growth, triggering a software sector rotation. Became a catalyst for the software layer of AI. Mentioned as a trigger for IGV ETF momentum.

Cited as an example of a non-exceptional software company that people told the host was a good buy, but it's not top 50 anymore. Hosts advise staying away from companies that aren't number one or two in their space.

Identified as a fortress-zone company with deep data moats. Every AI agent needs data to act on, and the data lives in the fortress. AI makes Snowflake more valuable, not less.

Mentioned briefly as a software stock that sold off but found its bottom, similar to Microsoft and Adobe. No specific recommendation given, just context about the software sector recovery.

Mentioned as one of the software stocks down significantly (30%+) during the SaaS apocalypse. No specific recommendation given.

Snowflake crushed earnings with 19% EPS beat, revenue up 30% YoY, product revenue beat, remaining performance obligations up 42% YoY, 740 net new customers, and strong guidance ($5.6B vs $5.54B expected). Stock rose 6% after hours. Hosts see this as evidence the 'software is dead' narrative is wrong.

Snowflake rallied 5% ($10) after hours on strong earnings. Host notes it has been 'popping off' for earnings calls consistently.

More AI requires more data storage and processing. Goldman Sachs lists it as a winner, though Felix admits he's 'a bit flaky' on the thesis.

Did pretty well in 2025. Database company supporting AI workloads. Christophe does not own it.

Host expresses renewed interest in Snowflake after hearing Brad Gersonner's thesis that Snowflake is a data substrate for AI/agentic solutions and is accelerating revenues. He had not reviewed the company in years but is now interested again.