Shares of the cloud data warehouse firm Snowflake Inc. moved higher in extended trading today after the company beat expectations for its second-quarter earnings and kept its full-year revenue forecast steady.On the other hand, Snowflake’s guidance for the current quarter came up just short of Wall Street’s targets. Perhaps as a result, its stock gained a relatively modest 4% in after-hours trading, adding to a gain of 2% during the regular trading session.The company reported earnings before certain costs such as stock compensation of 22 cents per share, well ahead of Wall Street’s forecast of just 10 cents per share

In the weeks leading up to the Snowflake Summit in June, speculation focused on how Snowflake Inc. would define its vision for the new modern data stack, where applications were being constructed from a set of data elements that can be composed and launched at scale.Today’s applications are being driven by real-time data generated by people, places, things and activities, leading major platforms, such as Snowflake, to develop innovative ways to connect disparate data sources. An enterprise desire to inform and automate decision-making means that data must also be accessible, not locked in application silos

This week’s Snowflake Summit is drawing attention to Snowflake Inc.’s strategies for enabling artificial intelligence on vast amounts of data.During the Summit, the company held its Investor Day, where it laid out its strategies for enabling AI on its vast amounts of data that it manages and hosts on behalf of customers.“They felt that it was a very convincing strategy, very compelling strategy,” said Frank Slootman (pictured), chairman and chief executive officer of Snowflake Inc.The focus on AI was a key topic throughout the day, and the conference content helped attendees grasp the breadth and depth of Snowflake’s strategy