Big tech companies are increasingly partnering with utility companies to secure reliable, low-carbon energy for their power-intensive data centers, notably to support the demands of artificial intelligence and cloud computing.
Snowflake suffers from a lofty price-to-sales ratio that's hovering near 20. Furthermore, the company is currently sporting a 196 forward P/E ratio. Both of those metrics are up considerably since the stock's 40% year-to-date run.