Snowflake

According to GeekPark, YC’s latest batches show a surge in hard-tech and hardware/data infrastructure startups, with hard-tech representation rising from 8% to 20% of admitted companies over the past 12–18 months. Robotics, manufacturing, semiconductors/photonics, power infrastructure, and defense all grew, and batch-level indicators show accelerating revenue and product development powered by AI-native workflows. The report notes moves toward end-to-end Agent-driven products and describes increasing complexity of the physical stack, including Dipole Labs’ optical data switching initiative and a higher proportion of founder PhDs in the current batch.

According to 36Kr, Snowflake announced a private offering of $3.5 billion in zero-coupon convertible senior notes, consisting of $1.3 billion due 2029 and $2.2 billion due 2031. The net proceeds will be used to fund costs for capped call trades, cash repurchases of 2027 notes, and general corporate purposes including share repurchases, acquisitions, and strategic investments.