Cloud-based data platform Snowflake Inc. (NYSE:SNOW) climbed Monday, fueled by growing adoption of its AI-focused data cloud tools and a wave of multi-billion-dollar artificial intelligence spending commitments from tech giants.
Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOGL) Google plan to invest over $250 billion in AI infrastructure from 2025 to 2026, with Meta targeting nearly $100 billion in 2026 capex, Google raising its 2025 outlook to $85 billion, and Microsoft’s annual spending trending above $100 billion.
Apple (NASDAQ:AAPL) also pledged an additional $100 billion investment in the U.S. last week.
Also Read: Snowflake Stock Jumps 45% In 2025 As AI Data Cloud Drives Record Revenue
Snowflake stock is trading close to its 52-week high of $196.09. The stock is up more than 26% year-to-date, trouncing the NYSE Composite’s 7% gain, after topping revenue and EPS estimates in the past two quarters.
In June, Bank of America Securities analyst Brad Sills said his latest IT spending survey shows Snowflake is well-positioned to benefit from rising AI-driven demand in analytics, security, and public cloud.
He highlighted data analytics reclaiming the top spending priority. Strong 2026 project pipelines and growing AI investment in back-office infrastructure support his bullish view on Snowflake as a key AI beneficiary.
Last week, CNBC’s “Mad Money Lightning Round” host Jim Cramer recommended buying more of the stock.
Based on ratings from 39 analysts, Snowflake carries a consensus price forecast of $229.29. UBS set the highest target at $265 on June 4, 2025, while Morgan Stanley issued the lowest at $185 on April 16, 2025. The three most recent ratings, from JMP Securities, Stephens & Co., and Morgan Stanley on July 18, July 18, and June 24, 2025, averaged a $261 forecast, implying a potential 33.63% upside from current levels.
Price Action: SNOW stock is trading higher by 1.99% to $195.55 at last check Monday.
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