TECH - Snowflake Set to Acquire Reka AI for Over $1B Expanding Its Generative AI Offerings | Benzinga
Snowflake Inc (NYSE:SNOW) is negotiating to buy Reka AI for over $1 billion to enhance its generative AI capabilities.
Reka AI, launched in 2022 by former Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Meta Platforms Inc (NASDAQ:META) researchers, specializes in large language models, which have applications ranging from image captioning to customer support chatbots.
Valued at approximately $300 million in a 2023 funding round that included investment from Snowflake’s venture arm, Reka AI has drawn significant interest from Snowflake, Bloomberg cites a Reuters report.
Snowflake, a cloud data management firm, launched its own large ...