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Snowflake, a cloud data warehouse provider, beat Wall Street’s sales estimates and raised its full-year guidance due to strong demand for its services in AI projects. It also announced plans to acquire AI observability firm TruEra Inc. and reported a net loss of $317 million for the first quarter. The company is forecasting $3.3 billion in product revenue for fiscal 2025, with 24% growth compared to the previous year. In the second quarter, it expects product revenue of $805-810 million, surpassing Wall Street’s estimate of $793 million.