Snowflake Expands Data Clean Rooms Across Clouds; CEO's Insider Buying Amid Databricks 'Competition' Buzz Sparks Attention

Snowflake +1.44%

Snowflake

SNOW

130.33

+1.44%

Snowflake Inc. (NYSE:SNOW) announced on Thursday that Snowflake Data Clean Rooms are now generally available to customers in AWS East, AWS West, and Azure West. 

This helps how enterprises can securely share data and collaborate in a privacy-preserving manner to achieve high-value business outcomes in the Data Cloud.

The general availability follows Snowflake’s acquisition of data clean room technology provider Samooha.

Data clean rooms address the challenge of sharing sensitive data securely, enabling collaboration while maintaining privacy. 

Snowflake’s Data Clean Rooms, previously accessible mainly to large enterprises, are now available to businesses of any size, facilitating quick deployment and cross-cloud functionality.

Snowflake has been in the headlines regarding a recent insider buying from the company’s new CEO.

Snowflake CEO Sridhar Ramaswamy has disclosed the purchase of 31,542 shares of the company’s stock in a new regulatory filing. Ramaswamy bought the shares on Monday at an average price of $158.52, representing a $5 million investment in total.

Former Snowflake CEO Frank Slootman decided to retire from his role last month. 

The high-profile executive departure is primarily attributed to competition from Databricks Inc., a closely held analytics software maker, Bloomberg reported.

“I think we put a lot of pressure on them, and they realized that AI is important,” Databricks Chief Executive Officer Ali Ghodsi said Wednesday in an interview on Bloomberg Television.

Price Action: SNOW shares are trading higher by 1.48% to $162.42 on the last check Thursday.

Photo via Shutterstock

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