Snowflake Surges Past IBM With Market Value at $120 Billion
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A blistering rally in the shares of cloud-computing company Snowflake Inc. continued on Tuesday, sending its market valuation above International Business Machines Corp. and Advanced Micro Devices Inc.
Snowflake rose as much as 10% for a market capitalization of about $120 billion. The stock has now gained more than 40% since Dec. 2, when its first-earnings report as a public company impressed Wall Street analysts with triple-digit revenue growth.