New York — A blistering rally in the shares of cloud-computing company Snowflake continued on Tuesday, sending its market valuation above IBM and Advanced Micro Devices .
IBM, which is projected to generate about $74bn in revenue in 2020, has a market cap of $112bn, while AMD, with nearly $10bn in projected sales, weighs in at $111bn. Snowflake revenue is estimated to be $578.2m in its current fiscal year which ends at the end of January. That has helped make CEO Frank Slootman one of the best-paid technology executives. A compensation package he received upon joining Snowflake in April 2019 awards him a batch of options every month — for four years — that are now worth more than $108m each, or about $1.3bn annually. Slootman’s pay includes more than 13.7-million options with a strike price of $8.88.
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