Snowflake CEO Is Seeking AI Deals in Battle With Databricks, Microsoft and Amazon
- Company announces expanded tools at product conference
- Effort to acquire startup Reka AI stalled in recent weeks
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Snowflake Inc.’s new Chief Executive Officer Sridhar Ramaswamy is looking for deals in artificial intelligence to stay competitive with peers like closely held Databricks Inc. and the cloud computing giants.
The data analytics provider was in talks to acquire startup Reka AI for more than $1 billion, but the discussions fizzled without a deal. Snowflake released its own large language model, Arctic, in April, and lets customers use LLMs from other companies like OpenAI on its platform. In May, Snowflake announced it would hire about 35 employees from AI-oriented startup TruEra, which last raised $25 million in 2022.