Investor Michael Burry labeled Snowflake (SNOW) as very overvalued following a significant stock rally.
The cloud-data company recently beat Wall Street quarterly estimates.
Snowflake raised its full-year product revenue forecast due to high demand for AI offerings.
Burry warned the company faces an existential threat from artificial general intelligence and quantum computing.
He cited potential cybersecurity vulnerabilities in data lakes as a primary concern.
These technological shifts may lead companies to move data back in-house.