Snowflake expands Anthropic partnership for enterprise AI By Investing.com

SAN FRANCISCO - Snowflake Inc. (NYSE:SNOW) and Anthropic announced Monday the expansion of their strategic partnership, integrating Anthropic's Claude models into Snowflake Cortex AI to support enterprise AI deployment. The announcement sent Snowflake shares surging 57.75% over the past week, pushing the stock to within 1% of its 52-week high of $285.

The partnership builds on an agreement from December 2025 that integrated Claude models into Cortex AI across major cloud platforms. The companies stated that enterprises are using Claude through Snowflake for cybersecurity investigations, financial analysis, and data applications.

Snowflake reported that Cortex Code, powered by models including Claude, has more than 7,100 users. The company described it as Snowflake's fastest-growing product. Christian Kleinerman, EVP of Product at Snowflake, stated the product translates prompts into production-ready pipelines and applications for Snowflake schemas and workflows. The momentum comes as Snowflake posted $5.03 billion in revenue over the last twelve months with 31% growth, though the company remains unprofitable with a loss of $3.51 per share. According to InvestingPro data, 29 analysts have revised their earnings upwards for the upcoming period, and analysts predict the company will be profitable this year.

The integration allows customers to use Claude models with Snowflake data while maintaining governance and security controls within the Snowflake environment, according to a press release statement.

Companies using the integration include Basis, Block, Carvana, eSentire, Indeed, and Notion. Block's Engineering Lead Arnaud Weber stated teams use the system to investigate compliance and security issues and automate workflows. eSentire's CPTO Dustin Hillard said the company uses Claude within Snowflake for AI-led threat investigations.

The partnership includes several components: Snowflake Intelligence, which uses Claude for natural language queries across enterprise data; Cortex Agents, a framework for building enterprise AI agents; and participation in Claude Marketplace, where customers can apply existing Anthropic commitments toward Snowflake AI capabilities.

Snowflake and Anthropic stated they are collaborating on Claude Code Security capabilities designed to help organizations identify and remediate vulnerabilities.

Snowflake reported having more than 13,900 customers globally. With an $88.6 billion market cap and trading at a high revenue valuation multiple, InvestingPro analysis indicates the stock is currently overvalued relative to its Fair Value -- placing it among companies on the Most Overvalued list. Investors seeking deeper insights can access Snowflake's comprehensive Pro Research Report, one of 1,400+ available reports that transform complex Wall Street data into actionable intelligence.

In other recent news, Snowflake Inc. reported first-quarter fiscal 2027 product revenue of $1.334 billion, marking a 33.9% increase year-over-year and surpassing FactSet consensus expectations by 5.3%. The company also exceeded operating income estimates by 35.2%, showcasing robust financial performance. Following these strong results, several firms raised their price targets for Snowflake. Monness, Crespi, Hardt increased its price target to $320, citing the company's raised full-year guidance and strong second-quarter outlook. Freedom Broker adjusted its target to $300, highlighting the accelerated monetization of AI products and core platform growth. Benchmark set a new target of $270, noting record sequential dollar growth in the quarter. Cantor Fitzgerald raised its price target to $282, emphasizing the positive impact of Snowflake's AI-driven growth. Additionally, HSBC upgraded Snowflake's stock rating to Buy, recognizing the momentum from the company's AI product, CoCo, which has scaled to over 7,100 accounts since February 2026.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.