00:00I'm reading notes Mazuho saying bookings were a standout. They're talking about the seven nine figure deals that have come.
00:05Where are those deals coming from? What are those customers demanding of you? Great to see you Caroline. Yes we
00:13had seven nine figure deals including a mammoth four hundred million dollar deal. It reflects the confidence that our customers
00:21have both in where Snowflake is right now but importantly where we are going. We all understand that software is
00:29being
00:29disrupted by AI in a very very big way but what our customers understand is that for enterprise AI to
00:36truly succeed they need a single source of enterprise truth. They need built-in security, auditability, trust and access. Of
00:44course you also need the best models. That's what Snowflake provides for them and we're creating great products. Products like
00:50Snowflake intelligence that put the power of data into the hands of every business user. Whoop the health care company
00:58I mean the health company.
00:59loves using us and there are lots of partners that are using products like Cortex code to speed up what
01:07can be done with Snowflake. They're really looking to the future and making sure that we can deliver value with
01:13Snowflake and we are creating the products that help them deliver that kind of value day in and day out.
01:18That's why you're seeing companies as I said make commitments of four hundred plus million dollars with Snowflake.
01:24I'm really interested in codex code was something that was talked a lot a lot about on the call and
01:29people are adopting swiftly but that partnership model that you have the fact that you have integrations with anthropic open
01:34AI cloud also Google cloud but some of these have very good coding tools of their own. How do you
01:39see this ecosystem evolving because customers get it but the investor base have been questioning whether they'll take away your
01:45market share.
01:47Well so there are a lot of things that are specific to Snowflake and to data absolutely there are coding
01:55agents that are often provided by the model companies themselves.
01:58But we know a lot about how data systems are supposed to work about how Snowflake is supposed to work
02:03and Cortex code is super tightly integrated with the customer Snowflake account data does not go anywhere and remember we
02:11have earned the trust of all of these customers with certifications with the guarantee around things like AI use.
02:17We never use customer data for things like training models they get the superior models that we get through partnerships
02:24with these folks but we also add the secret sauce of data of how Snowflake works into products like Cortex
02:32code and we are seeing amazing wins both internally and also externally.
02:37One of our partners told us that having Cortex code was like Snowflake supplying them with bulldozers where previously they
02:43had showers.
02:44One of the core pillars for you to grow is to go out and find new customers and I wondered
02:50if you just give some detail on what's happening in the world of technology in AI that would bring a
02:56customer to Snowflake for the first time.
02:58What is it that they need that they didn't before?
03:03Typically they come to us because they need better insight into data.
03:08It is sitting somewhere it's hard for them to get these insights but increasingly what we are able to do.
03:13is have our sales team build an honest to goodness customized demo of something like a Snowflake intelligence on data
03:22that the kind of data that a customer is going to have.
03:25It is that easy access that really is the big winner for our customers and smart customers are also quickly
03:33realizing that having data in Snowflake means
03:36that they can think about how this data is going to be used in ways that they had not done
03:41before.
03:42Sanofi which is an existing customer is now is now using Snowflake intelligence our AI products to redefine a lot
03:48of workflows replacing a lot of existing software.
03:52These are the use cases that drive these customers to come to Snowflake and adopt it.
03:57Shrida last night Jensen Wang who you know very well talked about profitable tokens the idea that the output of
04:05an AI model is worth paying for customers do pay and they pay at a price that is greater than
04:11the compute used to generate it.
04:13Are you able to give me any evidence through Snowflake's lens that you actually see that in the real world.
04:19Well, what I can assure you is getting projects done as being changed dramatically something like setting up a pipeline
04:29used to be a multi week task we can get that done in a small number of hours.
04:34My teams come to me just last weekend with speed ups going from four weeks for a software engineering project
04:43that they did down to 40 minutes that is 100x speed up.
04:47And we are happy to spend any number of tokens in those 40 minutes to save that kind of time.
04:53I think coding agents are really quite magical in the value that they deliver and I think it's only going
04:59to accelerate from here.
05:00And so these investments are going to be pretty foundational in every company you know succeeding and thriving and that's
05:07why we are so bullish about Cortex code.
05:09And how much you have to invest in your own business.
05:12I mean the bullying case for many is you need to keep up with a furious pace of innovation.
05:16Can you at this moment briefly.
05:19We can because we are organized to drive rapid innovation.
05:24The team that is driving a product like Snowflake intelligence is not that large but we have structured it in
05:29such a way that they can make rapid progress.
05:32And it is more the meta structure of how you set up environments where people can get work done quickly
05:38and effectively.
05:39That matters a lot more than things like how much hardware you are investing in and things like that.
05:45The current moment is magical because all of us have access to great tools.
05:49It really comes down to how effectively we set up teams and projects to get things done and that's why
05:55we are very bullish on how we have set things up at Snowflake because we now have a demonstrated capability
06:01to be right at the cutting edge of where AI is having impact.
06:05Now let me thank you very much.
06:05Thank you very much.
06:05Have a good day.
06:06See you.
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