Silicon Valley-based Snowflake is “in the sweet spot” to benefit from wider use of AI among businesses over the next 12 to 18 months, according to Wedbush analyst Dan Ives.

Snowflake stock rallied today on a solid quarter and impressive guidance. Goldman Sachs analyst Kash Rangan sees upside in SNOW to $220.

Key Takeaways Wedbush upgraded Snowflake as the analysts predicted that the artificial intelligence software era is here.Wedbush said Snowflake was in the "sweet spot" to benefit from AI product demand.

Wedbush Securities analyst Daniel Ives has significantly increased his optimism on the next phase of the AI revolution, focusing on its transformative impact on the software sector. The analyst projects a monumental shift driven by generative AI adoption,