Investing
Nvidia brings its AI computing platform to cloud data firm Snowflake
© Reuters. FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
By Jane Lanhee Lee
OAKLAND, California (Reuters) – Snowflake a cloud data analytics company, is partnering with computing company Nvidia (NASDAQ:) to allow customers ranging from financial institutions to healthcare and retail to build AI models using their own data.
The two companies announced the partnership at Snowflake Summit 2023 on Monday.
“In the old days, in small data computing, you moved data to the computer,” Nvidia Chief Executive Jensen Huang told Reuters. “But when you have giant amounts of data like Snowflake does, and the pile of proprietary data … data that’s so valuable to a company, then you move the compute to the data.”
In this case, Nvidia is taking a “fairly engineering intensive” move of embedding its NeMo platform for training and running generative AI models into the Snowflake Data Cloud, said Huang.
The partnership comes as chatbot ChatGPT has pushed many companies to find their AI strategies and has propelled Nvidia, which provides the main hardware for AI, to becoming a trillion dollar company.
“This is significant. This is the last mile that we’ve been waiting for 40 years,” said Frank Slootman, Chairman and CEO of Snowflake. “Every industry is on this. They used to say software is eating the world. Well, now data is eating software,” he said about the importance of data today.
Slootman said companies that use Snowflake to manage their data will be able to now use their own data to train new AI models to gain an advantage in business without risking losing control of it.
No financial details of the partnership were disclosed, but Huang said Nvidia would benefit as more customers use computing for AI work.
“We sell more chips, and we have an operating system for AI called Nvidia AI Enterprise. And that operating system makes it possible for our chips to process AI,” said Huang. Nvidia charges customers for the use of its Nvidia AI Enterprise software.
Read the full article here
-
Side Hustles6 days ago
Mark Zuckerberg Is Now Second Richest Person in the World
-
Investing6 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles7 days ago
How to Be Unapologetically You and Why It Matters
-
Side Hustles7 days ago
With AI Magicx, It’s Like Getting an Entire Creative Team in One Money-Saving AI Tool
-
Side Hustles6 days ago
Meta Previews Movie Gen, AI Tools That Turn Dreams to Videos
-
Investing4 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Passive Income7 days ago
How AI-Driven Personalization Is Transforming the Retail Industry
-
Investing6 days ago
BCA says investors should fade the real estate rally By Investing.com