Snowflake is a cloud data warehouse that offers scalable storage, flexible compute capabilities, and a shared data architecture. It uses a shared data model where data is stored independently from compute resources in micro-partitions in cloud object storage. This allows for elastic scaling of storage and compute. Snowflake also uses a virtual warehouse architecture where queries are processed in parallel across nodes, enabling high performance on large datasets. Data can be loaded into Snowflake from external sources like Amazon S3 and queries can be run across petabytes of data with ACID transactions and security at scale.