Snowflake (SNOW) Surges 6.8% as AI Data Stocks Lead the Session
As seen on the 24/7 Wall St. homepage on August 3, 2026.
Snowflake is up 6.76%, one of the biggest software moves of the session as buyers crowd back into AI data plays before Palantir's earnings report. Software sentiment is turning fast, and this is where it is showing up first.
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Snowflake opened the session at $294.93 and climbed to $314.86, a gain of roughly 6.8% that puts it among the biggest single-day moves in software today. The stock pushed above $314 during the afternoon and held most of that ground through the final hour of regular trading, suggesting buyers were not simply chasing an early spike.
The catalyst, according to the card facts, is a rotation back into AI data plays ahead of Palantir's earnings report. Traders appear to be positioning in names tied to enterprise data infrastructure, and Snowflake is one of the clearest expressions of that theme in the software space. Sentiment in software has been shifting quickly, and Snowflake's outsized move signals that it is absorbing a meaningful share of that incoming capital.
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What to watch next is how the stock responds once Palantir actually reports. If those results disappoint, some of the momentum driving AI data names today could reverse quickly. If Palantir delivers, Snowflake could see continued follow-through as investors gain more confidence in the enterprise AI spending narrative broadly.
Sources
Mentioned: SNOW