Exclusive | Amazon Strikes $6 Billion Deal With Snowflake for Agentic Computing Chips - WSJ
Cloud
Snowflake surged ~34-36% after-hours after crushing Q1 estimates, raising full-year guidance, and announcing a $6B commitment to Amazon's cloud/agentic-chip infrastructure. The deal validates both Snowflake's AI demand inflection and AWS's hyperscaler positioning, but SNOW insiders have been consistently selling and the stock carries heavy sell-side coverage already at Buy.
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↓ SHORT-12% target+5% stop3-5 trading days post open
Fade the SNOW gap-up open as insider selling pressure and a stretched post-earnings move collide with an already Buy-heavy consensus — target a 10-15% giveback within 5 days.