Snowflake Stock Soars as Surging AI Demand Boosts Earnings

* Snowflake shares jumped >20% on AI-driven earnings beat. * Company raised full-year product revenue forecast. * Strong demand from 692 new customers, including 14 Global 2000 firms. Snowflake stock surged over 20% in extended trading after reporting Q2 results that topped expectations. Revenue rose 35% YoY to $1.55B and adjusted EPS hit $0.62 vs. $0.45 expected. The company added 692 new clients and raised its full-year product revenue forecast to $6.07B. AI demand is driving growth, prompting CEO comments on a 'flywheel effect.'