Q: Have you seen an increase in competitive displacements, and what might be triggering this? A: Sridhar Ramaswamy, CEO, noted that the ease of use, faster time to value, and reduced need for large teams are key factors in displacing competitors. The integration of AI products like Cortex AI also plays a role in attracting customers.

Q: How is the ramp of new AI products like Cortex compared to Snowpark, and how are you managing headcount and investments? A: Michael Scarpelli, CFO, stated that Cortex is in the early stages but showing promise. Snowpark is expected to be 3% of revenue. The company is managing headcount by combining teams and not replacing backfills quickly, focusing on performance management.

Q: How does Snowflake plan to address the narrative that structured data has limited runway in the AI era? A: Sridhar Ramaswamy, CEO, emphasized that analytics and the ability to act on data quickly are crucial. AI accelerates the transition from unstructured to structured data, and products like Cortex AI are designed to leverage this shift.

Q: Can you elaborate on the recent acquisition and its impact on Snowflake's strategy? A: Sridhar Ramaswamy, CEO, explained that the acquisition of Datavolo enhances Snowflake's ability to handle both structured and unstructured data. It brings over 100 connectors and allows Snowflake to process data from various sources, expanding its data engineering capabilities.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.