Snowflake Stock Gains 3% on NVIDIA Partnership

Shares of Snowflake (NYSE:SNOW) rose more than 3% intra-day today after the company announced a new partnership with leading chip manufacturer NVIDIA.

Under this collaboration, the two companies will work together to enable Snowflake's customers to develop personalized generative AI applications using their proprietary data.

Frank Slootman, the Chairman and CEO of Snowflake, expressed his enthusiasm, stating that the partnership with Nvidia will bring high-performance machine learning and artificial intelligence capabilities to Snowflake's extensive volumes of proprietary and structured enterprise data. He believes this collaboration will pave the way for unprecedented insights, predictions, and prescriptions in the global business realm.

By utilizing Snowflake's platform, businesses of all sizes will have the opportunity to create custom LLMs (Large Language Models) for advanced generative AI services, including chatbots, search functionalities, and summarization.