Snowflake Inc (NYSE:SNOW) faces pressure from Databricks' rapid growth and broader product push. However, BNP Paribas analyst Stefan Slowinski said the broader cloud data platform market still supports both companies.
• Snowflake stock is trading near recent highs. What’s next for SNOW stock?
Slowinski Says Data Platform Demand Is Accelerating
Slowinski said Databricks' Investor Briefing showed accelerating demand for cloud data platforms as AI increases the need for better business data context.
He said Databricks, which is privately held, is expanding beyond its traditional data engineering roots into databases, agentic AI, and applications.
