Snowflake in Advanced Negotiations to Acquire Neeva for AIpowered Search Software
Summary
As of May 17, 2023, sources reveal that Snowflake, a leading database software provider, is currently in advanced negotiations to acquire Neeva, a search startup founded by Sridhar Ramaswamy, a former top executive at Google’s ad tech division. This acquisition is expected to enable Snowflake to offer advanced artificial intelligence software that can help companies search for information within their internal documents and data. This development can be a perfect fit for Snowflake’s efforts to help cloud customers use the kind of AI that is popularized by chatbots such as ChatGPT. On May 17, 2023, the stock performance of SNOW, a technology services company that specializes in packaged software, showed a positive trend. The 37 analysts offering 12-month price forecasts for SNOW have a median estimate of $180.00, indicating that the stock is expected to perform well in the coming months.