TLDR
- Snowflake announced a $200 million multiyear partnership with OpenAI to integrate AI models into its Cortex platform
- The deal creates a joint go-to-market strategy and enables enterprise customers to deploy AI apps with their data
- OpenAI’s models will be available across all three major cloud providers through Snowflake, not just Microsoft Azure
- Companies including Canva and WHOOP are already using the joint offering for research and analytics
- RBC Capital maintains an Outperform rating with a $300 price target on Snowflake stock
Snowflake has struck a $200 million multiyear deal with OpenAI. The partnership integrates OpenAI’s AI models directly into Snowflake’s Cortex platform.
The agreement marks Snowflake’s second major AI partnership after its earlier deal with Anthropic. The company has built $100 million in AI annual recurring revenue.
Under the partnership, both companies will develop AI agents for complex workflows. Users can ask questions in natural language and get answers from company data without writing code.
The deal expands previous collaboration between the two companies. OpenAI’s models will now work across all three major cloud providers through Snowflake.
Previously, the integration worked primarily through Microsoft Azure. The expanded access gives enterprises more flexibility in their cloud choices.
Enterprise Customers Already Using Joint Platform
Several companies are already testing the combined offering. Canva and WHOOP are using it to speed up research and analytics.
The partnership lets enterprises analyze data and search internal documents. Companies can automate tasks while keeping strict data security controls.
Cloud data platforms are becoming a key battleground for AI businesses. Companies store their most valuable and sensitive information on these platforms.
Enterprises are moving beyond basic AI chatbots. They’re deploying integrated agents that work directly with proprietary data.
Competition Heats Up in Data and AI Market
RBC Capital called the deal “positive” in a research note. The firm says it reinforces Snowflake’s central role in enterprise AI.
The partnership highlights growth potential from AI-driven workloads in 2026. RBC Capital maintains an Outperform rating on Snowflake shares.
The firm set a $300 price target on the stock. This reflects confidence in Snowflake’s AI strategy.
Databricks has been scaling aggressively in the same market. The rival recently raised $4 billion at a $134 billion valuation.
Databricks is funding its “Agentbricks” framework and expanding AI products. The competitive pressure is pushing cloud platforms to strengthen their AI offerings.
Snowflake’s partnership creates a joint go-to-market motion with OpenAI. The collaboration lets enterprise customers deploy context-aware AI applications.
The deal builds on Snowflake’s momentum in AI revenue growth. The company continues positioning itself as a leader in AI-powered data analytics.
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