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Snowflake escaped the market's software-stock penalty box after posting earnings results, even as traders shrugged off the numbers from fellow software stalwart Salesforce.
The big picture: Software shares have struggled, as investors bet AI will undercut the previous profitability of software-as-a-service (SaaS) companies.
State of play: Snowflake's surge on Thursday proves that it's possible — though not easy — for such stocks to get back into the market's good graces.
