Snowflake’s stock price just soared to a 2026 high thanks to AI. So what happened to the SaaSpocalypse?

Shares in the AI data cloud provider Snowflake Inc (NYSE: SNOW) are surging this morning in premarket trading after the company reported better-than-expected results for its Q1 2027. Here’s what you need to know about those results, and how SNOW stock is reacting. What’s happened? Yesterday, after markets closed, Snowflake reported the results of its first fiscal quarter for 2027, which ended on April 30. Those results were some of the best the company has reported. Specifically, they...