Snowflake (NYSE: SNOW) surpassed market expectations with an initial public offering that raised $3.4 billion, setting a record as the largest U.S. software deal ever. The company priced 28 million shares at $120 each, above its estimated price range of $100 to $110 per share. It had initially said a price range of $75 to $85. The IPO gave Snowflake a market valuation of $33.3 billion. Snowflake stock jumped 111.6%, closing at $253.93. At some point in the trading session stock touched $319 or 165% higher. Berkshire Hathaway (Warren Buffett) and Salesforce Ventures have invested vast amounts of money in this technology stock.

Snowflake