Snowflake Sets $100 Million Target in AI Sales Push

Snowflake and other enterprise software firms whose success predates the rise of ChatGPT are trying to recast themselves as artificial intelligence companies. They’ll have to persuade corporate customers to choose their offerings in what has become a very crowded field.

The pressure is particularly acute for Snowflake CEO Sridhar Ramaswamy, who took the reins of the data analytics firm just over a year ago to turbocharge its AI efforts. To track its progress, Snowflake executives have told staff they want to reach $100 million in annual recurring revenue from sales of generative AI software by the close of the company’s fiscal year ending in January, according to two current Snowflake employees.