NVIDIA (NVDA.O) is entering into a collaboration with cloud data analytics company Snowflake (SNOW.N). The joint project aims to enable customers from financial institutions to healthcare and retail to build AI models using their own data. The collaboration will provide a way for companies to more easily create their own Generative AI applications using their own data – and in their secure cloud environment.
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NVIDIA teams up with Snowflake
Technologies that are changing the world
The collaboration between NVIDIA and Snowflake will use the "Snowflake Data Cloud" to enable enterprise customers to embed proprietary data into big language models to customize their needs. This will allow them to train and fine-tune generative AI chatbots without moving sensitive data off-premises. This gives them full control over their "big data" files and maintains data security. At the same time, they reduce the overhead costs of this type of operation.
The partnership between the two firms comes at a time when ChatGPT's chatbot has forced many companies to look at their "AI strategies". The advent of ChatGPT AI has kick-started the meteoric growth of NVIDIA, which provides the main hardware for AI, and helped it become a multi-billion dollar company with 22,473 employees.
NVIDIA and Snowflake's business model
Generative AI, Large Language Models (LLMs) ** are key components at the cutting edge of the Web3 revolution. This leverages technologies based on so-called Semantic Web concepts and natural language processing. Both NVIDIA and Snowflake are working with these technologies.
"We sell more chips and we have an operating system for AI called NVIDIA AI Enterprise. This operating system allows our chips to process AI," said Jensen Huang, the company's CEO. NVIDIA charges customers for using its NVIDIA AI Enterprise software.
This is the last mile (in the data processing revolution) we've been waiting 40 years for," says Frank Slootman, chairman and CEO of Snowflake. "All industries are in on it. It used to be said that software was eating the world. Well, now data is eating software," he said of the importance of data today.
Investing
At the time of writing (26.6.2023), NVIDIA shares have seen a slight decline of 0.11% in value. * However, over the long term, the tech firm's stock is on a continuous upward trend, a trend that is being bolstered by partnerships such as the one with Snowflake.
NVIDIA Corp's stock performance over five years * (Source: Google Finance)
Adam Austera, chief analyst at Ozios
* Past performance is no guarantee of future results
**LLM is a neural network-based computational language model with many parameters (typically billions of weights or more), trained on a large amount of text using self-supervised learning or semi-supervised learning.
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