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Market response to Snowflake's enhanced AI capabilities by end of Q4 2024
5
Snowflake•AI Data Cloud•TruEra•Anupam Datta•Shayak Sen•Will Uppington•Benoit Dageville•Product•LLMOps•MLOps•TrustworthyAI
Resolution / Starting Odds
Highly positive (stock increase >15%) • 33%
Moderately positive (stock increase 5-15%) • 33%
Neutral/negative (stock increase <5%) • 34%
Analysis from financial and tech industry experts
Story
Snowflake Acquires TruEra to Enhance AI Observability, Raises Revenue Forecast, Shares Rise 7%
May 22, 2024, 11:00 PM
Snowflake, a leader in AI Data Cloud, has announced the acquisition of TruEra, an AI observability platform. The acquisition aims to enhance Snowflake's capabilities in AI quality and observability, particularly in large language models (LLMs) and machine learning (ML). The announcement was made by the founders of TruEra, Anupam Datta, Shayak Sen, and Will Uppington, as well as Benoit Dageville, Co-founder and President of Product at Snowflake. Following the announcement, Snowflake's shares gained 7% on a strong revenue beat, and the company has also raised its revenue forecast. The acquisition will also support Snowflake's efforts in LLMOps, MLOps, and TrustworthyAI.
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