Snowflake Results Show Enterprises’ Desire For Anthropic Buffer

Snowflake’s strong quarterly report on Wednesday said a lot about what can go right for older software firms that sell AI tools on top of their existing products. 

While Anthropic, OpenAI and Cursor get the lion’s share of headlines about AI coding, for instance, Snowflake, whose primary business is selling data management software, demonstrated in its earnings that there’s a much longer list of firms that can provide such products. That’s in part because corporate chief information officers are looking for cost-savings after a fast run-up of AI spending earlier in the year, and they may want coding tools that can access a multitude of models rather than getting locked into one controlled by a single model maker like Anthropic.

Snowflake said Wednesday that the number of customer accounts using CoCo, its coding assistant previously known as Cortex Code, grew at least 28% in the July quarter to 9,100, compared to the previous period. (Enterprises may have multiple accounts for different teams within their firms). CoCo currently relies on models from Anthropic and OpenAI but is adding open-weight and open-source source models such as DeepSeek-V4-Flash and GLM-5.3, a spokesperson said.