(Reuters) - Snowflake forecast annual 2026 product revenue above analysts' estimates on Wednesday, as the data analytics provider sees rising cloud service growth amid advancements in artificial intelligence.

Shares of the Bozeman, Montana-based company rose 11% in the extended trading.

Snowflake expects annual 2026 product revenue of $4.28 billion, compared with analysts' estimate of $4.21 billion, according to data compiled by LSEG.