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PHOENIX - Cognite and Snowflake announced a strategic partnership on Friday to develop a bidirectional, zero-copy data sharing integration between their platforms, aiming to create a unified source for industrial intelligence. Snowflake, which has seen its stock surge over 100% in the past year and maintains a substantial market capitalization of $83.77 billion, continues to expand its enterprise solutions portfolio.
The collaboration will connect Cognite’s Industrial AI and Data Platform with Snowflake’s AI Data Cloud, enabling enterprise-wide access to industrial data. According to the companies, the integration will allow for real-time data flow between the platforms without duplication. With revenue growth of 28.37% over the last twelve months, Snowflake has demonstrated strong market momentum. According to InvestingPro analysis, which offers comprehensive insights through its Pro Research Reports covering 1,400+ top stocks, analysts expect the company to achieve profitability this year.
The partnership addresses challenges in industrial settings where data is often siloed and complex, making it difficult for analysts and operators to access consistent information for AI applications and operational decisions.
"Snowflake is one of the most important and widely adopted platforms in the enterprise, and this partnership allows enterprise analysts to leverage the intelligent industrial data to solve complex, cross-functional business problems," said Trygve Rønningen, Head of Global Revenue and Partner Enablement at Cognite, in a press release statement.
Kieran Kennedy, Global Vice President of Snowflake Data Cloud Product Partners, noted that Cognite provides "the essential domain specialization needed to transform complex industrial data into high-quality, AI-ready intelligence."
The companies claim the integration will reduce operational costs by eliminating data duplication and complex ETL pipelines while enabling more reliable AI applications across organizations.
The partnership will utilize Snowflake’s Secure Data Sharing capabilities and open standards for data exchange, which the companies say will help avoid vendor lock-in.
Cognite specializes in industrial AI solutions while Snowflake (NYSE:SNOW) provides cloud-based data platforms used by over 10,000 companies globally. Currently trading near its 52-week high of $255.39, Snowflake’s stock reflects strong investor confidence in its growth trajectory. InvestingPro subscribers can access 8 additional key insights about Snowflake’s financial health and market position.
In other recent news, Snowflake has made several noteworthy announcements and developments. UBS has raised its price target for Snowflake to $310, maintaining a Buy rating, following the analyst’s attendance at industry events in New York City. Additionally, Mizuho reiterated its Outperform rating with a $260 price target, emphasizing Snowflake’s launch of its first vertical-specific offering for Cortex AI. Jefferies also maintained a Buy rating with a $270 price target, highlighting the company’s accelerating product innovation and development. Snowflake has introduced Cortex AI for the financial services sector, aiming to help institutions unify data ecosystems and deploy AI models while ensuring regulatory compliance. The company also unveiled a managed Model Context Protocol Server, which is now in public preview. In leadership news, Snowflake announced the appointment of Stella Low as Chief Communications Officer, bringing experience from her previous roles at HP, Apple, and Cisco. These developments reflect Snowflake’s ongoing strategic initiatives and focus on innovation.
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