SNOW - Summit '26: The Data Layer at the Center of Enterprise AI

研报英文原文证据摘录

SNOW - Summit '26: The Data Layer at the Center of Enterprise AI

AI-related consumption through CoCo due to the

greater degree of customization it enables.

While Cowork may expand the reach of Snowflake’s platform to new classes of users over time, our conversations suggest that CoCo

remains the primary AI product driving meaningful customer activity and consumption today.

Competitive Positioning Remains Strong in Regulated Industries

Beyond AI tools, the capabilities announced this week appeared particularly focused on platform competitiveness with Databricks (Private)

and other fast-growing enterprise data vendors, including enhancements in data streaming as well as initiatives designed to make the

platform more open through a new set of connectors and data-sharing capabilities.

Our conversations with customers and partners indicated that while the historical product boundaries between structured and unstructured

data continue to blur, the traditional verticals of strength for each platform remain largely intact. Snowflake continues to perform well in

regulated industries such as financial services, healthcare, and the public sector. Multiple industry contacts throughout the week indicated

that Snowflake’s security and governance capabilities remain important drivers of platform wins.

Frontier Labs Increasingly View Snowflake as a Distribution Channel

Despite the appearance of Anthropic co-founder Daniela Amodei during Monday’s keynote, OpenAI was the frontier lab with the more

visible presence at the conference. The company hosted a number of sessions and maintained a prominent booth as a “Double Black

Diamond” sponsor.

Based on the presentations we attended and our conversations with conference participants, we believe OpenAI’s approach is that, while