SNOW - Nvidia's Latest AI Move Could Supercharge the Stock
2023-06-29 05:14:00 ET
Nvidia (NASDAQ: NVDA) gets a lot of attention from investors interested in artificial intelligence (AI) because its graphics cards are integral to the operations of so many AI-focused companies. Nvidia products are a go-to hardware component for cloud service providers and enterprises looking to jump on the AI bandwagon. Now the company inked a deal that will help it take advantage of another segment of this fast-growing niche.
Nvidia just announced a partnership with cloud-based data platform provider Snowflake (NYSE: SNOW) . The financial details of the partnership were not made public, but Nvidia did say that enterprises and organizations using Snowflake's data platform will now be able to build custom large language models (LLMs) using Nvidia graphics cards, which can then be used to develop generative AI services such as chatbots and search engines.
Let's see why this partnership could be a big deal for Nvidia.
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Nvidia's Latest AI Move Could Supercharge the Stock