Snowflake shares rise 4.4% to $358.68 on new AI tool

Snowflake shares jumped 4.1% during morning trading and reached $358.68, up 4.4% from the prior close, setting a new 52-week high. The gain came after the cloud data platform introduced Agentic Marketplace Discovery in public preview.

According to official company release notes, the new feature is available directly on the Marketplace Discover page in Snowsight. The tool lets users find and compare relevant listings by querying Snowflake's artificial intelligence assistant, CoCo.

The release arrived alongside a broader morning rebound across technology equities. CNBC reported that markets recovered from an AI-driven selloff from the previous day, which followed a disappointing revenue update from OpenAI. CNBC noted that investors viewed that shortfall as an isolated valuation reset for frontier labs rather than a systemic issue for enterprise software.

Snowflake shares have registered 26 moves larger than 5% over the past year and gained 2.6% the previous day after an ISG Index report showed commercial contract values surged 63% to $52.5 billion in the third quarter. The stock is up 65.5% since the beginning of the year. An investor who put $1,000 into the stock five years ago would hold $1,158.