Snowflake and NVIDIA Team to Help Businesses Harness Their Data for Generative AI in the Data Cloud

2023-06-27 08:15

LAS VEGAS--(BUSINESS WIRE)--Jun 26, 2023--

Snowflake (NYSE: SNOW), the Data Cloud company, and NVIDIA today announced at Snowflake Summit 2023 that they are partnering to provide businesses of all sizes with an accelerated path to create customized generative AI applications using their own proprietary data, all securely within the Snowflake Data Cloud.

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Snowflake and NVIDIA Team to Help Businesses Harness Their Data for Generative AI in the Data Cloud (Graphic: Business Wire)

With the NVIDIA NeMo ™ platform for developing large language models (LLMs) and NVIDIA GPU-accelerated computing, Snowflake will enable enterprises to use data in their Snowflake accounts to make custom LLMs for advanced generative AI services, including chatbots, search and summarization. The ability to customize LLMs without moving data enables proprietary information to remain fully secured and governed within the Snowflake platform.

“Snowflake’s partnership with NVIDIA will bring high performance machine learning and artificial intelligence to our vast volumes of proprietary and structured enterprise data, a new frontier to bringing unprecedented insights, predictions and prescriptions to the global world of business,” said Frank Slootman, chairman and CEO, Snowflake.

“Data is essential to creating generative AI applications that understand the complex operations and unique voice of every company,” said Jensen Huang, founder and CEO, NVIDIA. “Together, NVIDIA and Snowflake will create an AI factory that helps enterprises turn their own valuable data into custom generative AI models to power groundbreaking new applications — right from the cloud platform that they use to run their businesses.”

NVIDIA and Snowflake’s collaboration represents a new opportunity for enterprises. It will enable them to use their proprietary data — which can range from hundreds of terabytes to petabytes of raw and curated business information — to create and fine-tune custom LLMs that power business-specific applications and services.

By integrating AI technology from Snowflake and NVIDIA, customers can quickly and easily build, deploy and manage customized applications that bring the power of generative AI to all parts of their business across a variety of use cases. In addition, expanding AI capabilities in the Data Cloud enables these customers to create generative AI applications where their governed data already resides, a benefit that significantly reduces cost and latency while maintaining the security of their data.

“More enterprises than we expected are training or at least fine-tuning their own AI models, as they increasingly appreciate the value of their own data assets,” said Alexander Harrowell, principal analyst for advanced computing for AI at technology research group Omdia. “Similarly, enterprises are beginning to operate more diverse fleets of AI models for business-specific applications. Supporting them in this trend is one of the biggest open opportunities in the sector.”

Custom Models for Healthcare, Retail, Financial Services and More

With over 8,000 customers worldwide (as of April 30, 2023), the Snowflake Data Cloud gives enterprises the ability to unify, integrate, analyze and share data across their organizations, as well as with customers, partners, suppliers and others. In addition, customers can build and share leading data applications at scale with the Data Cloud.

Snowflake’s unified platform offers industry-specific Data Clouds to help deliver innovative solutions across multiple verticals and lines of business spanning advertising , media and entertainment, financial services, healthcare and life sciences, manufacturing, retail and CPG, technology and telecom. Most recently, Snowflake launched the Government and Education Data Cloud to enable data-driven decision making for the public sector.

Snowflake and NVIDIA’s collaboration will further enable customers to transform these industries by bringing customized generative AI applications to different verticals with the Data Cloud. For example, a healthcare insurance model could answer complex questions about what procedures are covered under various plans. A financial services model could share details about specific lending opportunities available to retail and business customers based on a variety of circumstances.

NVIDIA NeMo is a cloud-native enterprise platform for building, customizing and deploying generative AI models with billions of parameters. Snowflake plans to host and run NeMo in the Data Cloud, enabling customers to build, customize and deploy custom LLMs used for generative AI applications, such as chatbots and intelligent search.

With NeMo Guardrails software, developers can ensure that their applications are aligned with business-specific topics, safety and security requirements.

To learn more about the latest product integrations and trends in generative AI, watch Slootman and Huang’s fireside chat at Snowflake Summit 2023.

Learn More:

Register to attend Snowflake Summit and learn more about the latest product integrations from Snowflake and NVIDIA here.
Stay on top of the latest news and announcements from Snowflake on LinkedIn and Twitter.

About Snowflake

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, power data applications, and execute diverse AI/ML and analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 590 of the 2022 Forbes Global 2000 (G2K) as of April 30, 2023, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com.

About NVIDIA

Since its founding in 1993, NVIDIA (NASDAQ: NVDA) has been a pioneer in accelerated computing. The company’s invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined computer graphics, ignited the era of modern AI and is fueling the creation of the industrial metaverse. NVIDIA is now a full-stack computing company with data-center-scale offerings that are reshaping industry. More information at https://nvidianews.nvidia.com/.

Forward Looking Statements

This press release contains express and implied forward-looking statements, including statements regarding (i) Snowflake’s business strategy, (ii) Snowflake’s products, services, and technology offerings, including those that are under development or not generally available, (iii) market growth, trends, and competitive considerations, and (iv) the integration, interoperability, and availability of Snowflake’s products with and on third-party platforms. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the heading “Risk Factors” and elsewhere in the Quarterly Reports on Form 10-Q and the Annual Reports on Form 10-K that Snowflake files with the Securities and Exchange Commission. In light of these risks, uncertainties, and assumptions, actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. As a result, you should not rely on any forward-looking statements as predictions of future events.

NVIDIA Forward Looking Statements

Certain statements in this press release including, but not limited to, statements as to: the benefits, impact, and performance of NVIDIA’s products, services, and technologies, including NVIDIA NeMo, NVIDIA GPU-accelerated computing, and NeMo Guardrails; NVIDIA’s collaboration with Snowflake and the benefits and impact thereof; data being essential to creating generative AI applications that understand the complex operations and unique voice of every company; enterprises training or fine-tuning their own AI models and beginning to operate more diverse fleets of AI models for business-specific applications; and open opportunities in the sector are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing product and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230626375963/en/

CONTACT: Media Contacts:Kaitlyn Hopkins

Product PR Lead

Snowflake

press@snowflake.comAnna Kiachian

PR Manager

NVIDIA Corporation

+1-650-224-9820

akiachian@nvidia.com

KEYWORD: UNITED STATES NORTH AMERICA NEVADA

INDUSTRY KEYWORD: INTERNET DATA MANAGEMENT TECHNOLOGY ARTIFICIAL INTELLIGENCE SOFTWARE

SOURCE: Snowflake Inc.

PUB: 06/26/2023 08:01 PM/DISC: 06/26/2023 08:01 PM

http://www.businesswire.com/news/home/20230626375963/en