OAKLAND, California, June 26 (Reuters) – Snowflake (SNOW.N), a cloud data analytics company, has joined forces with Nvidia (NVDA.O), a computing company, to enable a diverse range of customers. They use their data to build AI models, from financial institutions to healthcare and retail.
The partnership between these two companies was officially unveiled at the Snowflake Summit 2023 on Monday.
“In the bygone era of small-scale data computing, data transported to the computer,” explained Nvidia’s CEO Jensen Huang in an interview with Reuters. “When dealing with vast amounts of data akin to Snowflake’s holdings, along with a valuable stash of proprietary information that carries immense worth for a company, the practical approach is to transfer the computing process directly to the data itself.”
In this particular instance, Nvidia is undertaking a “fairly engineering intensive” endeavor by integrating its NeMo platform, designed for training and deploying generative AI models, into the Snowflake Data Cloud, as stated by Huang.
This partnership appears at a time, when the presence of chatbot ChatGPT has prompted numerous companies to redefine their AI strategies, ultimately propelling Nvidia, the leading provider of AI hardware, to attain trillion-dollar status.
“This is a significant milestone, the culmination of four decades of waiting,” exclaimed Frank Slootman, Chairman and CEO of Snowflake. “Every industry is on board. Previously, it said that software was devouring the world.
Now, data is the catalyst behind software’s transformative power,” he emphasized, underscoring the paramount role of data in today’s landscape.
Slootman further emphasized that companies utilizing Snowflake’s data management capabilities will now possess the means to leverage their proprietary data for training novel AI models, gaining a competitive edge in their respective businesses, all while retaining control over their valuable data.
While no specific financial details of the partnership disclose, Huang noted that Nvidia stands to benefit as more customers adopt computing solutions for AI-related tasks.
“Our chip sales will surge, particularly with our Nvidia AI Enterprise operating system, which facilitates the seamless processing of AI tasks on our chips,” Huang elaborated. Nvidia charges customers for the usage of its Nvidia AI Enterprise software.