AI research lab Anthropic inked a $200 million deal with Snowflake to bring its AI models to Snowflake's 12,600 customers.

Snowflake shares slumped 11% on Thursday after the cloud data analytics company forecast slower product revenue growth for the fourth quarter, partly hit by discounts offered on the large, long-term deals.

Snowflake Inc. (NYSE:SNOW) shares are trading lower Thursday following the company's third-quarter financial results.

Anthropic and Snowflake announced a deal that will allow the deployment of AI agents capable of complex, multi-step analysis inside Snowflake's governed data environments.

Snowflake fell short of expectations, following impressive performances from Datadog Inc, Confluent Inc and MongoDB Inc.

Snowflake (NYSE:SNOW) released its third-quarter earnings yesterday, posting results that topped Wall Street estimates. Product revenue climbed 28% year-over-year to $1.21 billion, while adjusted earnings hit $0.

For the third quarter, Snowflake posted a loss of $294 million, or 87 cents a share, compared with a loss of $324.3 million, or 98 cents a share, a year earlier. Adjusted earnings per share were 35 cents, ahead of estimates of 31 cents a share according to analysts polled by FactSet.

Snowflake's stock slumped Thursday despite third-quarter results that topped analysts' expectations on the top and bottom lines.

KLAMATH FALLS, Ore.- The 41st annual Snowflake Parade brought holiday cheer to Klamath Falls. Over 100 floats made their way through downtown on Thursday evening as part of the Klamath Snowflake Festival.