Snowflake Signs $6B Spending Deal With Amazon (NASDAQ: AMZN)

Snowflake (NYSE: SNOW) announced a $6 billion cloud spending commitment with Amazon.com Inc. (NASDAQ: AMZN) as part of a landmark partnership deal disclosed alongside Snowflake's latest quarterly results. The agreement underscores the deepening commercial ties between the two companies and represents a significant long-term revenue commitment to Amazon's cloud infrastructure. Shares of AMZN last traded at $271.85 on Wednesday, May 27, up $6.56 on the session.

Deal Terms

• Snowflake committed $6 billion in cloud spending to Amazon, according to reporting from Yahoo Finance.
• The deal was announced in conjunction with Snowflake raising its full-year product revenue outlook.
• Snowflake shares jumped sharply in early Thursday trading following the dual announcement, per Yahoo Finance.
• The agreement signals a formal, long-term infrastructure relationship between the two companies.

Why It Matters

A $6 billion spending commitment from a major cloud-based data platform represents a durable, contracted revenue stream for Amazon's cloud division. For Amazon, partnerships of this scale provide multi-year visibility into infrastructure demand from high-growth enterprise software customers.

The timing of the announcement — paired with Snowflake raising its own full-year revenue outlook — suggests growing enterprise confidence in cloud data workloads, a segment where Amazon is a primary infrastructure provider, according to the Yahoo Finance report. Contracted cloud commitments of this magnitude are typically structured over multiple years, providing Amazon with predictable future revenue rather than transactional spending.

Wall Street View

Wall Street's consensus on Amazon remains firmly positive. As of May 1, 2026, 22 analysts rated AMZN a Strong Buy, 50 rated it a Buy, and just 6 maintained a Hold, with zero Sell or Strong Sell ratings, according to the latest available consensus data. The near-unanimous bullish positioning reflects broad confidence in Amazon's business across its operating segments (TTM — may not reflect latest quarter).

Investor Takeaway

The $6 billion Snowflake commitment adds to the evidence that enterprise cloud spending remains robust, with Amazon a central beneficiary of long-term infrastructure deals. With 72 Buy-or-better ratings against just 6 Holds and no Sells among covering analysts, Wall Street's conviction in AMZN's outlook appears well-anchored in the current environment. Investors will be watching for further large-scale partnership announcements as enterprise cloud adoption continues to generate contracted, multi-year commitments.