The information was shared during a fireside conversation between Snowflake CEO Frank Slootman and Nvidia CEO Jensen Huang on Monday at the Snowflake Summit.
Users of Snowflake will now be able to create unique AI models utilizing internal data thanks to the change. That’s a significant problem for businesses that want to use generative AI and massive language models and need to find solutions to their own questions that are specific to their own organizations.
As a result, Snowflake’s clients will be able to create custom generative AI chatbots that will mine their enormous informational databases for data. NeMO, the underlying toolkit from Nvidia, offers a huge fundamental language model that Snowflake customers may then customize with their own data. Additionally, Nvidia will supply the hardware that customers require for the training of their generative AI models, such as graphics processing units.
The manufacturer of graphics chips revealed a similarly comparable alliance with ServiceNow (NOW) in May. However, ServiceNow creates generative AI models rather than letting users train the models themselves. Giving consumers a rapid way to benefit from generative AI capabilities without having to train the platforms on their own data is the aim.
This is not the first program to let businesses create their own generative AI applications. In May, Microsoft (MSFT) launched Azure AI Studio, where users can create personalized copilots – AI-based applications. Copilots can function as chatbots among other configurations, similar to Snowflake’s solution.
When OpenAI published ChatGPT in November 2022, the field of generative AI exploded onto the scene. Since then, businesses as diverse as Microsoft, Google (GOOG, GOOGL), Meta (META), and Amazon (AMZN) have either produced the technology or contemplated doing so. However, Nvidia has undoubtedly benefited the most from the boom as it has invested in the development of both the software and the hardware needed to run AI systems.
Shares of the company have increased by 159% over the past 12 months and by 189% so far this year. The cause? When it comes to AI chips, Nvidia is the company to choose. This is due to the fact that, as it turns out, graphics chips are incredibly proficient at carrying out the type of parallel processing needed for AI. Nvidia is at the head of the stack, even though AMD has its own graphics capabilities and Intel is expanding its AI services. And it will continue to be there for the foreseeable future.
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