Snowflake (SNOW) shares surged 7.81% in Thursday's intraday trading, riding the wave of a broader tech sector rally. The stock's impressive performance was fueled by renewed optimism surrounding U.S.-China trade negotiations and strong earnings reports from key technology companies.

The positive sentiment in the tech sector was particularly bolstered by enterprise software leader ServiceNow's standout earnings report, which exceeded Wall Street's expectations on several key metrics. ServiceNow's strong performance, especially in its remaining performance obligations (RPO), a crucial indicator of future revenue, reassured investors that enterprise customers were maintaining their spending despite macroeconomic uncertainties.

Further contributing to the upbeat mood were solid results from semiconductor companies Texas Instruments and Lam Research. These earnings reports suggested resilient demand in key tech verticals, despite ongoing global trade tensions. The performance of these sector peers likely boosted investor confidence in Snowflake and other cloud-based software companies.

While Snowflake didn't release any company-specific news, the stock's movement reflects the market's overall positive reaction to these sector-wide developments. Investors appear to be betting on continued strength in enterprise software and cloud computing, areas where Snowflake is a key player with its data warehouse-as-a-service offerings.