Snowflake launched Arctic, an open-source large language model (LLM) optimized for enterprise workloads and efficiency. The move highlights how data platforms are increasingly launching LLMs to combine with their data platforms.
Here's a look at what Snowflake CEO Sridhar Ramaswamy had to say on some core themes that'll matter to customers.
A lot of people mistake that he's a technologist and doesn't have operational chops. He ran a very large team at Google," said Snowflake CFO Michael Scarpelli.
Snowflake has a new CEO. The company said Sridhar Ramaswamy will become CEO immediately as Frank Slootman stepped down but remains Chairman of the board.
For fiscal 2024, Snowflake sees product revenue of $2.65 billion, up 37% from a year ago.
Snowflake consolidated its AI and machine learning efforts with Snowflake Cortex, a managed service that provides access to large language models (LLMs), AI models and vector search in one place and includes Snowflake Copilot, Document AI and Universal Search.
The company ended the quarter with 402 customers generating more than $1 million in revenue.
Constellation Research analyst Doug Henschen said "Snowpark Container Services are a linchpin for the Nvidia partnership and a catalyst for more capabilities Snowflake is promising."