Snowflake launched dynamic model routing within its Cortex AI Gateway to optimize enterprise AI costs. This feature automatically selects the most efficient model for specific tasks to reduce unnecessary spending. The company also expanded its open model library with DeepSeek-V4-Flash 0731 and GLM-5.3.
UBS raised its Snowflake price target to $425, citing increased spending on the data layer and Cortex Code adoption. Citizens boosted its target to $408 after 88% of channel checks yielded positive results. This sentiment represents a significant improvement over the previous quarter.
Snowflake stock climbed nearly 1% in pre-market trading following the updates. Wall Street analysts cited accelerating AI demand as the primary driver for the price target hikes.