Buffett Makes Rare Tech Bet on Snowflake's Cloud Data Future
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Warren Buffett's Berkshire Hathaway invested in Snowflake at its IPO in 2020, making it an unusual and forward-looking tech bet for Buffett.
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Snowflake provides cloud data warehousing and analytics services, which are crucial for organizations developing and scaling AI applications.
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Snowflake expects to grow revenue at a 30% compound annual rate between 2024-2029, expanding margins over time.
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Despite gaining over the past year, Snowflake stock is still down 51% from its highs, presenting a buying opportunity.
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With strong momentum and a large expansion runway, Snowflake has big upside for risk-tolerant investors seeking explosive AI plays.