Is Snowflake Stock Riskier Than It Looks?

Snowflake (SNOW) stock has returned 169% over the past six months, against 14.0% for the S&P 500. Investors appear to believe artificial intelligence has put the company on a faster growth track, and the latest quarter supports that view. Yet on the most recent earnings call, executives pointed out a catch in the AI business. So what is the catch.