Snowflake shares surge as AI boom fuels demand for data platforms

(Reuters) -Snowflake shares jumped about 14% on Thursday riding a wave of demand for its artificial intelligence database products, as companies race to modernize their data infrastructure and simplify AI adoption. The cloud-based data warehousing firm, which helps enterprises store, manage and analyze massive datasets across multiple cloud providers, said demand for its platform is accelerating. Nvidia's strong forecast boosted confidence in the AI sector and pointed to sustained spending on data infrastructure, a trend that positions Snowflake to benefit as companies accelerate efforts to modernize data stacks and deploy AI.