Snowflake's AI Flywheel Has A Catch (Rating Downgrade)

What happened: A Seeking Alpha analyst downgraded Snowflake Inc. ($SNOW), arguing its AI flywheel has a catch despite calling it an obvious AI beneficiary in enterprise software. Why it matters: The analyst cites Snowflake's consumption business model and Cortex Code customer adoption as central to the thesis, while the downgrade signals concern about that model.

A Seeking Alpha analyst downgraded Snowflake Inc. ($SNOW), arguing its AI flywheel has a catch despite calling it an obvious AI beneficiary in enterprise software.

The analyst cites Snowflake's consumption business model and Cortex Code customer adoption as central to the thesis, while the downgrade signals concern about that model.