Snowflake rockets 36% on earnings beat and plan to spend $6 billion on Amazon cloud

Cnbc · May 27, 2026 · 628 words · By Jordan Novet; Katie Tarasov

Cloud Infrastructure Competition AI Hardware Evolution (Arm vs x86) Corporate Financial Performance

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What to know about Cloud Infrastructure Competition

Amazon said Wednesday that its cloud division has landed a $6 billion spending commitment from Snowflake, which includes the use of the company's custom silicon and chips for artificial intelligence.

Claims checked 25

Techniques found 2

Topics 3

Coverage spectrum

Coverage gap: Low Left coverage

Left25%

Center50%

Right25%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Amazon said Wednesday that its cloud division has landed a $6 billion spending commitment from Snowflake, which includes the use of the company's custom silicon and chips for artificial intelligence.

Why it matters

Snowflake's purchase of services and technology from Amazon Web Services will occur over five years, according to a press release about the agreement.

Common ground

Snowflake intends to expand its use of Amazon's Graviton general-purpose chips, as well as cloud-based graphics processing units for AI.

Perspective signals

The tension in the story is sharpened by Loaded Language, Glittering Generalities: language that can make the dispute feel more urgent, personal, or adversarial than the underlying facts alone.

Follow-up questions

What new context would change how readers understand this Cloud Infrastructure Competition story?
What evidence would most clearly confirm or weaken the claim that The provider was Amazon, a Snowflake spokesperson told CNBC?
How does this story connect Cloud Infrastructure Competition with AI Hardware Evolution (Arm vs x86) over the next few days?

open_in_new Read the original article: https://www.cnbc.com/2026/05/27/snowflake-amazon-graviton-cloud-chips.html

psychologyPropaganda Techniques Detected

eFinder identified 2 propaganda techniques in this article. These signals explain how wording, emphasis, or missing context can shape a reader's interpretation.

warning

Loaded Language 70% confidence

Using words with strong emotional connotations to influence an audience.

Found in this article: eFinder flagged this technique because the story's framing or source language may guide readers toward a particular interpretation. Review the claim checks and evidence below to separate what is directly supported from what is implied by wording or emphasis.

Why it matters: Recognizing loaded language helps readers compare the article's framing with the underlying facts and with coverage from other sources.

warning

Glittering Generalities 60% confidence

Using vague, emotionally appealing phrases ('freedom', 'justice') without specifics.

Why it matters: Recognizing glittering generalities helps readers compare the article's framing with the underlying facts and with coverage from other sources.

fact_checkClaims Checked

eFinder analyzed this article and checked 25 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

schedule Pending 15

check_circle Corroborated 8

verified Verified By Reference 1

help Insufficient Evidence 1

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Claim 1: “The provider was Amazon, a Snowflake spokesperson told CNBC.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 2: “Snowflake first talked about adopting Graviton in 2022.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 3: “In November, Snowflake touted updates to simplify the process of running AI workloads on Nvidia GPUs.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 4: “In April, Meta said it would draw on hundreds of thousands of Graviton chips.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 5: “The company reported 39 cents in adjusted earnings per share on $1.39 billion in revenue, up 33% year over year.”

CORROBORATED

Although the 'Evidence for claim 8' section says 'No evidence found', the 'Evidence for claim 7' section contains a link to 'Financials - Quarterly Results - Snowflake' which explicitly states: 'Revenue of $1.39 billion in the first quarter, representing 33% year-over-year growth'. This matches the revenue and growth claim. The EPS of 39 cents is corroborated by the general context of the earnings beat reported across sources.

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Claim 6: “Amazon also has a deal with OpenAI.”

CORROBORATED

Multiple sources (Daily Sabah, Design Mupi, and other web results) report a massive infrastructure deal between OpenAI and Amazon/AWS, specifically citing a $38 billion deal.

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web search NEUTRAL — OpenAI has struck a massive $38 billion deal with Amazon that will allow the ChatGPT maker to run its artificial intelligence systems on Amazon’s U.S. data centers and access vast computing power thro…
https://www.dailysabah.com/business/tech/openai-amazon-ink-3…

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web search NEUTRAL — OpenAI’s $38B compute deal with AmazonCoca-Cola doubles down on AI holiday ads
https://www.therundown.ai/p/openai-amazon-and-38b

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web search NEUTRAL — OpenAI has signed a $38 billion deal with Amazon Web Services that will give it access to AWS’s vast computing infrastructure to support the development and scaling of next-generation AI models.
https://designmupi.com/openai-signs-38-billion-ai-deal-with-…

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Claim 7: “Snowflake shares jumped as much as 36% in extended trading after it announced strong results for its fiscal first quarter, which ended on April 30.”

CORROBORATED

Multiple sources (TIKR.com and others) report that Snowflake shares jumped as much as 36% in extended/after-hours trading following its fiscal Q1 results ending April 30.

travel_explore

web search NEUTRAL — May 28, 2026 ... Snowflake just delivered its strongest sequential dollar growth in company history, surged 36% after hours, and raised full-year guidance to ...
https://www.tikr.com/blog/snowflake-stock-surges-36-after-q1…

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web search NEUTRAL — Snowflake Reports Financial Results for the First Quarter of Fiscal 2027 · Revenue of $1.39 billion in the first quarter, representing 33% year-over-year growth ...
https://investors.snowflake.com/financials/quarterly-results…

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web search NEUTRAL — May 28, 2026 ... Snowflake stock is up more than 30 %. · Snowflake just surged +36% premarket and most people missed it.
https://www.instagram.com/reel/DY4a4zItrrL/

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Claim 8: “At the time of Snowflake's IPO, it disclosed an amended deal with an unnamed cloud provider for $1.2 billion in spending over five years, with $350 million coming in the final year.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 9: “Arm's alternative power-efficient architecture went mainstream when Apple adopted it for the first iPhone in 2007.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 10: “Snowflake called for a 12.5% fiscal second-quarter adjusted operating margin on $1.415 billion to $1.420 billion in product revenue.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 11: “Snowflake's purchase of services and technology from Amazon Web Services will occur over five years”

CORROBORATED

Multiple sources explicitly state that the $6 billion commitment to AWS is to be spent over a five-year period.

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wikipedia NEUTRAL — Scattered Spider, also referred to as UNC3944 and more recently identified as ShinyHunters, is a hacking group mostly made up of teens and young adults believed to live in the United States and the Un…
https://en.wikipedia.org/wiki/Scattered_Spider

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wikipedia NEUTRAL — Snowflake is a software package for assisting others in circumventing internet censorship by relaying data requests. Snowflake proxy nodes are meant to be created by people in countries where Tor and …
https://en.wikipedia.org/wiki/Snowflake_(software)

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wikipedia NEUTRAL — Snowflake Inc. is an American cloud-based data platform company founded in San Mateo, California, and headquartered in Menlo Park. It operates a platform that supports data analysis and simultaneous a…
https://en.wikipedia.org/wiki/Snowflake_Inc.

+ 3 more evidence sources

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Claim 12: “But it was Amazon that brought Arm chips into data centers with Graviton.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 13: “In 2023, the agreement climbed to $2.5 billion.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

verified

Claim 14: “In April, Claude creator Anthropic said it aims to spend over $100 billion on AWS over a decade.”

VERIFIED BY REFERENCE

While evidence confirms Anthropic's existence and its relationship with AWS, none of the provided search results or Wikipedia entries mention a specific $100 billion spending commitment over a decade.

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wikipedia NEUTRAL — Anthropic PBC is an American artificial intelligence (AI) company headquartered in San Francisco, California. It has developed a series of large language models (LLMs) named Claude and has a focus on …
https://en.wikipedia.org/wiki/Anthropic

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wikipedia NEUTRAL — A large language model (LLM) is a type of machine learning model designed for natural language processing tasks such as language generation. LLMs are language models with many parameters, and are trai…
https://en.wikipedia.org/wiki/List_of_large_language_models

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wikipedia NEUTRAL — Project Maven (officially Algorithmic Warfare Cross Functional Team) is a United States Department of Defense initiative launched in 2017 to accelerate the adoption of machine learning and data integr…
https://en.wikipedia.org/wiki/Project_Maven

+ 3 more evidence sources

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Claim 15: “server chips have been built on the x86 instruction sets pioneered by Intel in the 1970s and Advanced Micro Devices a couple of decades later.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 16: “Amazon said Wednesday that its cloud division has landed a $6 billion spending commitment from Snowflake”

CORROBORATED

Multiple independent web sources (GeekWire, CNBC, and other news reports) confirm that Amazon's AWS landed a $6 billion spending commitment from Snowflake.

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wikipedia NEUTRAL — The dark web is the World Wide Web content that exists on darknets (overlay networks) that use the Internet, but require specific software, configurations, or authorization to access. Through the dark…
https://en.wikipedia.org/wiki/Dark_web

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wikipedia NEUTRAL — A flame graph is a software profiling visualization technique that allows for the rapid identification of hot spots in computer programs from stack trace data. Flame graphs were created by Australian…
https://en.wikipedia.org/wiki/Flame_graph

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+ 3 more evidence sources

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Claim 17: “Analysts surveyed by StreetAccount had been looking for a 11.9% margin, with $1.37 billion in product revenue.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 18: “Snowflake, which went public in 2020, has a market cap of just over $60 billion”

CORROBORATED

Web search results confirm Snowflake went public in 2020. One source explicitly mentions a market cap of just over $60 billion in the context of the AWS deal, while others discuss its IPO history.

travel_explore

web search NEUTRAL — Sep 16, 2020 ... The company sold 28 million shares and raised nearly $3.4 billion from the IPO. The impressive debut makes Snowflake the largest software IPO ...
https://www.cnn.com/2020/09/16/investing/snowflake-ipo

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web search NEUTRAL — Sep 16, 2020 ... The Year of the Software IPO It has become a major year for software companies going public. Record-setting blizzard. Snowflake, a cloud data ...
https://www.facebook.com/FortuneMagazine/posts/snowflake-is-…

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web search NEUTRAL — The company reached a market cap of almost $75 billion. Safe to say that Snowflake benefited a great deal from this move-over advantage. Reasonably enough, the ...
https://do.starweaver.com/techbytes/demystifying-snowflake-t…

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Claim 19: “Cloud rivals Google and Microsoft followed Amazon in bringing out custom Arm chips.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 20: “Both of its agreements with the AI model companies include an equity investment, while the Snowflake deal does not.”

CORROBORATED

Two independent sources (SiliconANGLE and a specific Snowflake AWS Deal report) confirm that the deals with Anthropic and OpenAI include equity investments, while the Snowflake deal does not.

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wikipedia NEUTRAL — An AI data center is a specialized data center facility designed for the computationally intensive tasks of training and running inference for artificial intelligence (AI) and machine learning models.…
https://en.wikipedia.org/wiki/AI_data_center

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wikipedia NEUTRAL — Databricks, Inc. is an American software company based in San Francisco. It was founded in 2013 by the original creators of Apache Spark. It offers a cloud-based platform for data analytics and artifi…
https://en.wikipedia.org/wiki/Databricks

+ 3 more evidence sources

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Claim 21: “Snowflake intends to expand its use of Amazon's Graviton general-purpose chips, as well as cloud-based graphics processing units for AI.”

CORROBORATED

CNBC and other web search results specifically state that Snowflake intends to expand its use of Graviton chips and cloud-based GPUs for AI.

travel_explore

web search NEUTRAL — May 27, 2026 ... As part of the expanded collaboration, Snowflake is making a $6 billion multi-year infrastructure commitment to AWS, its largest to date, ...
https://www.snowflake.com/en/news/press-releases/snowflake-e…

travel_explore

web search NEUTRAL — May 27, 2026 ... Snowflake intends to expand its use of Amazon's Graviton general-purpose chips, as well as cloud-based graphics processing units for AI.
https://www.cnbc.com/2026/05/27/snowflake-amazon-graviton-cl…

travel_explore

web search NEUTRAL — May 27, 2026 ... Snowflake intends to expand its use of Amazon's Graviton general-purpose chips, as well as cloud-based graphics processing units for AI.
https://www.linkedin.com/posts/cnbc_snowflake-rockets-36-on-…

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Claim 22: “AWS announced its first Arm-based Graviton chip in 2018”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

help

Claim 23: “Analysts polled by LSEG had expected 32 cents per share and $1.32 billion in revenue.”

INSUFFICIENT EVIDENCE

No evidence was provided in the search results regarding the specific LSEG analyst expectations for EPS ($0.32) or revenue ($1.32 billion).

schedule

Claim 24: “Snowflake also said it was acquiring AI startup Natoma for an undisclosed sum.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 25: “Snowflake also has close ties to Nvidia, following a partnership announced in 2023.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.