'Snowflake' Chairman Sells $130 Million in Shares Amid Performance and AI Momentum

On May 1, 2026, Michael L. Spiezer, a reporting person for Snowflake Inc. (SNOW), sold roughly 60,000 shares in multiple transactions on the open market under a Rule 10b5-1 trading plan, converting about $9.3 million (approximately KRW 130 billion) to cash.

At the same time, Spiezer disclosed that he still holds equity valued at about $2.1–2.2 billion (around KRW 2.8–3 trillion), primarily through indirect holdings in venture funds and investment vehicles.

In its Q1 FY2027 results, Snowflake reported revenue of $1.39 billion, a 33% year-over-year increase, and highlighted growing demand for its AI-based products, prompting the company to raise its full-year product revenue guidance. The company also signed a five-year, $6 billion (roughly KRW 8 trillion) infrastructure agreement with Amazon Web Services (AWS) and announced an agreement to acquire Natoma, an MCP platform provider for AI agents—moves that accelerate Snowflake’s expansion of data and AI infrastructure.

Founded in 2012, Snowflake is a U.S. data-cloud and AI-data platform company offering data warehousing, analytics, and generative AI services across major public clouds such as AWS, Microsoft Azure, and Google Cloud. From its earliest days, it has maintained a close partnership with venture firm Sutter Hill Ventures. Spiezer, a partner at Sutter Hill, is known as an early and long-term investor in Snowflake and a key member of its board.