Snowflake Inc (NYSE:SNOW) is deepening its push into enterprise artificial intelligence through a new multi-year partnership with OpenAI designed to help global companies turn their proprietary data into real business value.

Snowflake on Monday announced a new collaboration with OpenAI that includes a multi-year, $200 million agreement focused on co-innovation and joint go-to-market strategies.

The companies said the partnership will support the development and deployment of customized AI solutions and AI agents for enterprise customers, with the goal of delivering measurable returns on investment.

OpenAI Models Go Native Inside Snowflake's Platform

Under the direct, first-party agreement, OpenAI models will become natively available to Snowflake's 12,600 global customers through Snowflake Cortex AI across all three major cloud platforms.

Snowflake said organizations such as Canva and WHOOP will be able to bring OpenAI models directly to their enterprise data for research and insights.

Models including GPT-5.2 will also be accessible through Snowflake Intelligence.

Analysts See AI Upside, Flag Competitive Risks

The collaboration builds on an existing relationship in which OpenAI uses Snowflake as its data platform for analytics and testing, while Snowflake uses ChatGPT Enterprise internally to help employees make faster decisions, streamline workflows, and boost productivity.

Snowflake stock has gained 6% in the last 12 months.

Bank of America Securities analyst Koji Ikeda reiterated a Buy rating on Snowflake but cut his price forecast to $275 from $310, citing shifting growth expectations.

The analyst expects Snowflake to still sustain or reaccelerate product revenue growth in the high-20% range citing expansion of its offerings and benefits from increasing AI adoption.

He expects customers to keep raising spending as Snowflake serves as core infrastructure for enterprise data and AI workloads, supporting faster growth than infrastructure software peers and improving free cash flow margins.

At the same time, Ikeda flagged competition from hyperscalers and Databricks as the main risk, warning that stronger rivals could pressure pricing and drive higher investment needs.

He also noted Snowflake's reliance on hyperscaler infrastructure could become a structural disadvantage, while adding that although the stock trades at a premium, its valuation looks more reasonable when adjusted for growth.

SNOW Price Action: Snowflake shares were up 1.30% at $195.21 at the time of publication on Monday, according to Benzinga Pro data.

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