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Snowflake Inc. (NYSE:SNOW) ETFs surged to attention on Thursday after shares in the cloud data platform climbed over 20% as investors flocked to its artificial intelligence-powered database products amid booming demand. The action illustrates the extent to which investors seeking diversified exposure to the AI and cloud data infrastructure bubble are flocking to the use of ETFs.
Among the funds in the news, the Global X Cloud Computing ETF (NASDAQ:CLOU) has Snowflake as one of its top holdings, making it one of the most direct beneficiaries of the stock’s rise. The WisdomTree Artificial Intelligence & Innovation Fund (BATS:WTAI) targets the wider AI adoption theme propelling enterprise data modernization.
For those looking for a broader software exposure, the iShares Expanded Tech-Software Sector ETF (BATS:IGV) offers exposure to Snowflake peers such as MongoDB Inc (NASDAQ:MDB) and Datadog Inc (NASDAQ:DDOG), firms similarly perceived as winners in next-generation database demand.
Snowflake’s leap helped the stock reach its 52-week high on Thursday. The rally highlights Wall Street’s growing confidence that the company is well-positioned to capitalize on the AI wave as businesses intensify their efforts to upgrade their data infrastructure.
Nvidia Corp’s (NASDAQ:NVDA) robust outlook earlier this week also supported expectations of ongoing AI and data infrastructure spending, a tailwind for Snowflake and others. Analysts are citing robust adoption on Microsoft’s Azure cloud offering, specifically in Europe, the Middle East and Africa, as evidence of global momentum in data infrastructure upgrades.
Snowflake shares already have risen almost 52% this year, although their valuation is still lofty at 178.57 times forward P/E according to Benzinga Pro.
For ETF investors, the message is straightforward: while investing directly in Snowflake carries valuation risk, ETFs offer the opportunity to participate in the broader AI-powered data infrastructure growth story with diversified protection.
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