Snowflake inks agreement to spend $2.5B on the AWS Cloud
By MYBRANDBOOK
Snowflake has entered into a new multiyear contract with cloud giant AWS that includes a $2.5 billion spending commitment over the next five years and plans by both companies to contribute “millions of dollars” to support joint development and go-to-market efforts, although the announcement did not disclose the value of the deal. During Snowflake’s fiscal 2023 fourth-quarter and year-end earnings call, CFO Michael Scarpelli said that under the new five-year deal Snowflake has a $2.5 billion spending commitment with AWS, more than twice an earlier deal with a $1.2 billion spending commitment.
Scarpelli said on the earnings call, “I would say the new AWS agreement is a great step forward in improving an already really good relationship with AWS to begin with. We had a $1.2 billion commit, now we have a $2.5 billion commit over the next five years and it’s [a] much better alignment go-to-market between the two.”
Snowflake relies on the AWS platform to provide many of its data cloud services to customers. The company said that 84 percent of Snowflake customers run their deployments on AWS.
Snowflake also uses the Microsoft Azure and Google Cloud Platform to provide its services. During the earnings call Scarpelli said Snowflake is two and a half years into a five-year contract with Microsoft Azure and he indicated that in the future Snowflake will likely look to expand its go-to-market relationship with Microsoft Azure.
The announcement of the expanded alliance, in fact, put great emphasis on the two companies’ collaborative initiatives including “both companies, contributing millions of dollars to support go-to-market efforts” and taking “a deep, multifaceted approach to fuel growth and drive customer-focused innovation across sales and marketing, industry solutions, product integrations and more.”
AWS CEO Adam Selipsky said in a statement, “Data is at the center of every application; process and business decision and is the cornerstone of digital transformation. Working alongside Snowflake, we are unlocking new value for thousands of customers around the world and helping them maximize their data investments. The strong relationship between AWS and Snowflake is empowering the world’s leading businesses to grow and prosper.”
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