Snowflake is emerging in the AI field, seemingly more powerful than Nvidia. This cloud data company is riding the wave of AI, and its business is thriving.

The latest financial report is quite impressive. Revenue increased by 32%, reaching $1.1 billion. The growth rate is slightly faster than last year. The number of customers is also increasing, up 19% year-on-year. Interestingly, more than half of the customers are using Snowflake's AI products.

CEO Ramaswamy said that AI has become the main reason customers choose Snowflake. It has impacted nearly half of new customers. Existing customers also prioritize AI as a strategic focus, with over 6,100 accounts using Snowflake's AI services weekly.

Net income retention rate of 125%. This indicates that existing customers are increasing their investments. This momentum has led the company to nearly double its earnings per share after adjustments, reaching $0.35.

Last year, Snowflake's stock price increased by 108%. Nvidia only increased by 40%. There is still more to come in the future. The company believes that the market will double in five years, reaching $355 billion by 2029.

Analysts are optimistic that Snowflake's future profit growth will surpass that of Nvidia. Currently, Snowflake has a price-to-sales ratio of 19 times, while Nvidia's is 30 times. Despite having already risen significantly, Snowflake may still offer investors more returns. However, who knows? The market is always difficult to predict.