The Last Four Weeks
Everybody Just Bought the Same Thing
Six announcements in four weeks. Snowflake, Databricks, Zeta, Adobe, Salesforce, HubSpot. Read them together and they are one move.
If you run revenue or partnerships at a platform, the last four weeks were not six separate news cycles. They were one.
Every major player made a version of the same bet. Own the governed data and signal layer, because the model on top of it is a commodity. Here is what actually shipped, and what it means for the base you are trying to keep.
The Data Platforms Moved First
June 1 to 4 · Summit 26
Snowflake bought the governance layer
Snowflake acquired Natoma, an enterprise MCP platform, and shipped AI Agent Identity to GA. Every agent now gets a cryptographic identity, per-agent access control, and a full audit trail. Snowflake Intelligence became CoWork. Cortex Code became CoCo. Q1 product revenue hit $1.33B, up 34% and accelerating. The CEO framed the whole thing in one line: having a model gives you zero competitive advantage, because your competitors can buy the same one.
June 16 · Data + AI Summit
Databricks launched a CDP
This is the one that should have your product team’s attention. CustomerLake is an agentic CDP built natively inside the lakehouse. No separate data store. No duplication. Profile Agents build the Customer 360. Campaign Agents run continuous loops instead of one-off campaigns. Twenty-one launch partners, including Braze, Bloomreach, Iterable, and Adobe. Private preview with HP, Circle K, and AB InBev. Consumption pricing, not a license. Scott Brinker’s read: an infrastructure platform just became a martech application platform.
June 23 · Cannes
Zeta rebuilt its Data Cloud on Palantir
A seven-year deal. Zeta’s Data Cloud gets rearchitected on Palantir Foundry, with Athena as the decisioning layer on top. David Steinberg called it the biggest partnership Zeta has ever done and put a $100M+ annual revenue number on it. His framing matters more than the number: Zeta is repositioning from a marketing technology company to an AI infrastructure platform. The stock moved 6% on the news.
“Having a model gives you zero competitive advantage. Your competitors can buy the same ones. Your proprietary data is what actually creates leverage.”
Sridhar Ramaswamy, CEO, Snowflake · Summit 26 keynote
Then the Application Layer Answered
June 11
Adobe cleared the number it needed to clear
Record Q2 revenue of $6.62B, up 13%. AI-first ARR tripled year over year and crossed $500M, which is the threshold the market has been watching since the CEO transition started. Acrobat AI ARR tripled. Firefly asset generation up 4x. Guidance raised. The CEO search is still open and the CFO seat is interim, so Adobe is executing at speed with two chairs empty.
June 30
HubSpot bought Warmly. That makes three.
Warmly identifies more than half of anonymous website visitors as individuals, not just companies, and runs agents that turn that signal into outreach. HubSpot is folding it into Smart CRM. This is the third acquisition of the independent GTM middle in seven months. Salesforce took Qualified in December. Salesforce took Intercom in June for $3.6B. Now HubSpot takes Warmly. Both sides of the CRM duopoly are pulling the identify-and-engage layer inside the platform.
What This Means for Your Installed Base
Every one of these moves is a land grab for the layer underneath. And every one of them lands on the same customer problem you already have inside your base.
Your customers are about to be told the foundation is the fix. Databricks will pitch CustomerLake as the CDP they should have had. Zeta will pitch Foundry as the governance they never got. HubSpot will pitch Warmly as the signal they were missing. All of it sounds like an answer.
It is not, and you know why. 74% of enterprises that put AI agents in front of customers this year pulled them back out. Not model failures. Governance failures. The data underneath was never in shape to act on. Buying a better foundation does not change that on day one. It relocates the problem.
Which means the accounts most at risk in your base are not the ones who are unhappy. They are the ones who never activated, are now being told a new platform will fix it, and have no proof that yours ever worked. A renewal conversation with no evidence is a competitive opening.
The move is not a better roadmap deck. It is proof. Independent, measured, on the stack they already own.
BURN RATE · Intelligence for your installed base. And theirs.