🟡 $SNOW — Q1 FY27 print tonight. The cleanest read on enterprise AI spend. 📅 Earnings: Wed May 27, AMC 💰 EPS consensus: $0.32 (+33% YoY) 📊 Revenue consensus: $1.32B (+27% YoY) 📈 Options-implied move: ±13.52% 📊 Avg actual move last 4 quarters: 11.85% The setup: stock down ~22% YTD near $171. Q4 FY26 was strong — $1.23B product revenue +30% YoY, 125% net revenue retention, RPO $9.77B +42% YoY, 740 net new customers. Management guided FY27 product revenue ~$5.66B, ahead of Street. The asymmetric thesis: if consumption is actually accelerating with AI workloads — not just talk, real Cortex/Snowflake Intelligence revenue — the multiple re-rates. If consumption plateaus, the AI premium evaporates and the stock has more downside than the bear case currently assumes. 🐂 Bull case: - Product revenue beat with raised FY27 guide - Net revenue retention holds 125%+ - Cortex / Intelligence ARR disclosed and material 🐻 Bear case: - Consumption growth decelerates sequentially - NRR slips below 122% - AI workload commentary stays vague My read: this is the highest-variance print of the day. The 13.5% implied move tells you the market has no idea. What I'm watching: RPO growth, NRR, AI-specific revenue color. $SNOW #Earnings#

Below is a conceptual diagram of #HydRON# (High thRoughput Optical Network), the ultra-high-speed satellite network led by #ESA#. Its architecture looks remarkably similar to that of Skyloom. For HydRON Element #2#, the Franco-Italian space company Thales Alenia Space is providing the on-board packet router, while Officina Stellare, together with the German Aerospace Center, is developing both fixed and mobile optical ground stations. In 2024, Skyloom Global Corp. announced a collaboration with NEC Corporation. At the time, Skyloom’s CTO and co-founder Santiago Tempone said: “We look forward to working closely with NEC's digital coherent optical communication experts and delivering a discriminating optical communications product to the marketplace.” If you’re wondering what coherent means in this context, I recommend the five-part thread below: On October 1, 2025, Officina Stellare and Skyloom Global Corp. USA announced the signing of a technology and license agreement and a teaming agreement for the Skyloom Europe project. Here is the article shared earlier by @Rick101284 regarding the cooperation between Skyloom and Officina: "Skyloom Europe." This initiative will involve (i) the establishment of a #NewCo# in Italy, entirely owned by Officina Stellare, and (ii) the creation of a high-capacity production facility to meet the growing and evolving global market demand for optical communications, which is estimated to be worth approximately 12 billion euros. Just one month later, in November, IonQ officially announced the acquisition of Skyloom. (The deal was completed two months later in January 2026.) In the same month, IonQ also announced the establishment of IonQ Italy. And since then… silence. Even more interesting, just two days ago, Mynaric announced it had been selected for HydRON Element #3#. But Skyloom (now part of IonQ)? Still quiet. Very quiet. Almost too quiet. Surely it’s not dead. Should we go wake it up? 😄 Feels like it might be time. For now… I’ll keep watching.