The CEO of AI data firm Snowflake isn’t letting the stock market distract him from ambitions to become “one of the great technology companies in this world,” he told CNBC.
The company — a cloud data storage platform — made history when it became the largest-ever software IPO when it went public five years ago, and its share price is currently rallying amid an AI boom.
However, as investors flock to AI-related companies, fears of a bubble have emerged, leaving the market keen to distinguish between hype and reality in a bid to avoid being burned in the event of a pull-back.
“You don’t control the stock price,” Sridhar Ramaswamy told “Squawk Box Europe” on Thursday. Shares of Snowflake rose 6.5% on Wednesday and are up over 60% year-to-date.
“My focus very much is on value creation. We have to earn dollars, every single dollar at a time, so we are focused on the quarter, focused on the year, but, much more, also on the value that we create with customers, or the long term, the stock market will settle itself,” he added.
His comments came after Snowflake investor Michael Speiser last week sold shares to net over $11 million, while senior VP Vivek Raghu Nathan made around $2.6 million in a share sale at the end of last month.
Ramaswamy declined to comment on individuals’ sales but added: “I am not selling any stock, I’m very much in favor of the long-term value that Snowflake is going to be creating, and the sales tend to be very, very modest.”
Toeing the line of incremental adoption
Ramaswamy said it was important for firms to keep their eyes on the prize — making AI useful and building returns that way — and advised customers to do the same.
He stressed the importance of implementing AI incrementally, in part because not all projects will work, but also because employees fearing that AI will replace them may be resistant.
“That’s part of the nuance that executives need to bring in to figure out: Where is the technology most applicable? Some are thinking of AI as a technology that can cure all problems. I think it’s a mistake. Definitely, there’s promise, but some areas are going to be much more amenable than others,” Ramaswamy said.
One key opportunity right now is how quickly AI can accelerate the value that comes from data, Ramaswamy said.
“The time-to-value change is also pretty remarkable. Will there be turbulence along the way in the markets, with respect to how the stock market behaves? Absolutely. But I think the value that is going to come out of this AI revolution, if I may call it that, is pretty firm, and we all need to stay focused on that,” he added.
A market bubble — and burst — doesn’t have to mean the end of a company. Meta, Amazon and Google all emerged from the dot-com era and are among the world’s most valuable companies today.
But AI might not necessarily play out in the same way as the dot-com bubble, according to Vista Equity’s Ashley MacNeill, especially if investors keep a cool head, While bullish, she told CNBC’s “Closing Bell” that it’s important to have a “measured” approach.
“Is this a bubble that’s going to burst like it did in 1999? Or is this more like a balloon where we’re going to see it inflate and deflate as we go through the cycles?” MacNeill said.
“Given the longevity of this technology and given the fact this is waves that’s going to adopt this technology, I’m more inclined to think that we aren’t bursting, but rather we’re going to inflate and deflate as this technology ebbs and flows,” she added.
Demonstrators hold a banner reading “Liberated Zone” during a protest at the Microsoft campus in Redmond, Washington, on Aug. 19, 2025. Microsoft Corp. employees rallied at the company’s Redmond, Washington, headquarters in an effort to ratchet up pressure on the software maker to stop doing business with Israel over its war in Gaza.
David Ryder | Bloomberg | Getty Images
A Microsoft engineer is resigning after 13 years at the software giant, claiming the company continues to sell cloud services to the Israeli military and that executives won’t discuss the war in Gaza.
Scott Sutfin-Glowski, a principal software engineer, informed colleagues at Microsoft on Thursday that this will be his last week at the company.
“I can no longer accept enabling what may be the worst atrocities of our time,” he wrote.
In the letter, he referred to a February Associated Press article that said the Israeli military had at least 635 Microsoft subscriptions, and he claimed the vast majority of them remain active.
Microsoft declined to comment.
Sutfin-Glowski’s announced departure comes a day after President Donald Trump said Israel and Hamas committed to the first phase of a peace plan two years into the latest conflict. The AP reported on Thursday, citing government officials, that the U.S. is sending roughly 200 troops to Israel to help support the ceasefire deal.
The conflict has been a matter of ongoing tension at Microsoft.
For months, employees have protested the company’s cloud business from the Israeli military. Five employees were fired.
In September, Microsoft said it had stopped providing certain services to a division of the Israeli Ministry of Defense, though it didn’t provide specifics. That decision came after Microsoft investigated an August report from The Guardian saying the Israeli Defense Forces’ Unit 8200 had built a system for tracking Palestinians’ phone calls.
Sutfin-Glowski said the company cut off communication systems that allowed employees to bring up their concerns regarding the Israeli military’s use of Microsoft products.
Outside a building at Microsoft headquarters in Redmond, Washington, on Thursday, employees and community members opened up banners calling on the company to drop ties with Israel, according to a statement from No Azure for Apartheid. The group has been asking Microsoft to listen to the more than 1,500 employees who petitioned the company to endorse a ceasefire.
“Today, the ceasefire in Gaza finally takes effect after two years of genocide, but the atrocities, human rights abuses, war crimes, apartheid, and occupation continue,” Sutfin-Glowski wrote.
Tesla is facing a federal investigation into possible safety defects with FSD, its partially automated driving system that is also known as Full Self-Driving (Supervised).
Media, vehicle owner and other incident reports to the National Highway Traffic Safety Administration showed that in 44 separate incidents, Tesla drivers using FSD said the system caused them to run a red light, steer into oncoming traffic or commit other traffic safety violations leading to collisions, including some that injured people.
In a notice posted to the agency’s website on Thursday, NHTSA said the investigation concerns “all Tesla vehicles that have been equipped with FSD (Supervised) or FSD (Beta),” which is an estimated 2,882,566 of the company’s electric cars.
Tesla cars, even with FSD engaged, require a human driver ready to brake or steer at any time.
The NHTSA Office of Defects Investigation opened a Preliminary Evaluation to “assess whether there was prior warning or adequate time for the driver to respond to the unexpected behavior” by Tesla’s FSD, or “to safely supervise the automated driving task,” among other things.
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The ODI’s review will also assess “warnings to the driver about the system’s impending behavior; the time given to drivers to respond; the capability of FSD to detect, display to the driver, and respond appropriately to traffic signals; and the capability of FSD to detect and respond to lane markings and wrong-way signage.”
Tesla did not respond to a request for comment on the new federal probe. The company released an updated version of FSD this week, version 14.1, to customers.
For years, Tesla CEO Elon Musk has promised investors that Tesla would someday be able to turn their existing electric vehicles into robotaxis, capable of generating income for owners while they sleep or go on vacation, with a simple software update.
That hasn’t happened yet, and Tesla has since informed owners that future upgrades will require new hardware as well as software releases.
Tesla is testing a Robotaxi-brand ride-hailing service in Texas and elsewhere, but it includes human safety drivers or valets on board who either conduct the drives or manually intervene as needed.
In February this year, Musk and President Donald Trump slashed NHTSA staff as part of a broader effort to reduce the federal workforce, impacting the agency’s ability to investigate vehicle safety and regulate autonomous vehicles, The Washington Post first reported.
Commander Jared Isaacman of Polaris Dawn, a private human spaceflight mission, speaks at a press conference at the Kennedy Space Center in Cape Canaveral, Florida, U.S. August 19, 2024.
Isaacman, who has close ties with SpaceX CEO Elon Musk, was at the White House in September for Trump’s dinner for tech power players. Musk did not attend.
Trump and Isaacman have had multiple in-person meetings in recent weeks to talk about the Shift4 founder’s vision for the space program, according to Bloomberg, citing a person familiar with the meetings.
After a fiery back-and-forth between Musk and Trump over government spending, the president pulled Isaacman’s nomination for the post, saying he was a “blue blooded Democrat, who had never contributed to a Republican before.”
“I also thought it inappropriate that a very close friend of Elon, who was in the Space Business, run NASA, when NASA is such a big part of Elon’s corporate life,” Trump wrote in a Truth Social post on June 6.
Trump named Transportation Secretary Sean Duffy interim head of NASA in July.
Isaacman, who declined to comment, was initially nominated in December to lead the space agency.
Isaacman is a seasoned space traveller, having led two private spaceflights with SpaceX in 2021 and 2024. Shift4 has invested $27.5 million in SpaceX, according to a 2021 filing.
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Isaacman stepped down as CEO from Shift4, the payments company he founded in 1999 at the age of 16, after his nomination was pulled, and now serves as executive chairman.
“Even knowing the outcome, I would do it all over again,” Isaacman wrote about the NASA nomination process in a letter to investors announcing the Shift4 change.
Now, it looks like he gets to do it all over again.
Tensions between Musk and Trump have cooled in the months since, but big challenges face the U.S. space program..
Trump has proposed cutting more than $6 billion from NASA’s budget.
As a result of Trump’s Department of Government Efficiency initiative, which Musk led in the first half of 2025, around 4,000 NASA employees took deferred resignation program offers, cutting the space agency’s staff of 18,000 by about one-fifth.
During the October government shutdown, NASA has made exceptions that allow employees to keep working on missions involving Musk’s SpaceX and Jeff Bezos’ Blue Origin.