{"id":28551,"date":"2023-06-28T06:08:30","date_gmt":"2023-06-28T10:08:30","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/nvidia-snowflake-ai-pact-creates-two-winners-says-analyst\/"},"modified":"2023-06-28T06:08:31","modified_gmt":"2023-06-28T10:08:31","slug":"nvidia-snowflake-ai-pact-creates-two-winners-says-analyst","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28551","title":{"rendered":"Nvidia-Snowflake AI Pact Creates Two Winners, Says Analyst"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000679636\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>A new artificial-intelligence partnership between<br \/>\n        Snowflake<br \/>\n       and<br \/>\n        Nvidia<br \/>\n       has Wall Street analysts seeing a potential growth driver for Snowflake, a cloud-based data-warehousing company.<\/p>\n<p>Snowflake stock (ticker: SNOW) is on the rise Tuesday after the company announced a deal with Nvidia (NVDA) that will offer generative-AI technology\u00a0to Snowflake\u2019s customers.<\/p>\n<div class=\"paywall\">\n<p>Investor excitement for the future of AI has lifted the<br \/>\n        Nasdaq Composite<br \/>\n       28% so far this year. Shares of tech giants Meta Platforms (META) and Microsoft (MSFT)\u2014both of which offer exposure to AI\u2014have topped that with gains of 138% and 38%, respectively.<\/p>\n<p>Nvidia stock has been one of the largest beneficiaries of investor sentiment so far this year, soaring 177%. The company gained a lot of traction after announcing its new AI supercomputer.<\/p>\n<p>By comparison, Snowflake stock has gained 20% this year. Mizuho analyst Jordan Klein thinks this deal will help Snowflake\u2019s stock go even higher.<\/p>\n<p>\u201cI think both [SNOW and NVDA] will be \u2018winners\u2019 over time as it addresses two key goals for businesses\/organizations in their gen AI efforts\/development,\u201d Klein said. \u201cDeal enables SNOW customers to use NVDA\u2019s AI training models to train their own proprietary data for company or industry specific gen AI bots and features\u2026It also keeps the data safe and in control of the user.\u201d<\/p>\n<p>Klein added that there will most likely be more upside for Snowflake over time \u201cas this pushes them headfirst into gen AI arena.\u201d<\/p>\n<p>Klein is not the only analyst bullish on the partnership. Evercore ISI analyst Kirk Materne wrote in a report that \u201c[we] believe this relationship helps accelerate SNOW\u2019s push into AI and having customers develop directly on the Data Cloud.\u201d Materne rates Snowflake stock at Outperform with a $190 price target. Evercore analyst C.J. Muse rates Nvida stock at Outperform with a $550 price target.<\/p>\n<p>Snowflake stock is up 1.9% in Tuesday trading to $173.23.<\/p>\n<p>Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/nvidia-snowflake-ai-stock-e5ca4eb9?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new artificial-intelligence partnership between Snowflake and Nvidia has Wall Street analysts seeing a potential growth driver for Snowflake, a cloud-based data-warehousing company. Snowflake stock (ticker: SNOW) is on the rise Tuesday after the company announced a deal with Nvidia (NVDA) that will offer generative-AI technology\u00a0to Snowflake\u2019s customers. Investor excitement for the future of AI [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-28551","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nvidia-Snowflake AI Pact Creates Two Winners, Says Analyst | iFintechWorld<\/title>\n<meta name=\"description\" content=\"A new artificial-intelligence partnership between Snowflake and Nvidia has Wall Street analysts seeing a potential growth driver for Snowflake, a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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