8 AI News Updates Investors Should Not Miss

5. Snowflake Inc (NYSE:SNOW)

Number of Hedge Fund Holders: 71

Snowflake Inc (NYSE:SNOW) is a technology company that provides a cloud-based data platform that enables customers to consolidate data into a single source of truth to drive meaningful business insights and share data. On February 11th, the company confirmed the expansion of its AI DATA cloud with support from Microsoft Azure Mexico.

The expansion and strategic collaboration with Microsoft strengthens Snowflake Inc’s (NYSE:SNOW) capability to provide customers with a cloud platform that meets data residency and sovereignty requirements. Likewise, organizations in Latin America will be able to leverage built-in security and governance solutions powered by artificial intelligence. Additionally, they should become more data-driven as they capitalize and deploy generative AI capabilities.

Ernesto Serrano, Country Manager, Mexico, Snowflake, stated, “Snowflake is committed to providing the enterprises of the world with the infrastructure necessary to succeed in the age of AI. By providing support for Azure Mexico to local businesses, Snowflake customers can further reduce latency and optimize performance for critical workloads all with the built-in security and governance of the AI Data Cloud.”