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Snowflake Stock Climbs After Striking High-Profile AI Deal With Palantir

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Oct 16 - Snowflake SNOW shares climbed about 3% on Thursday morning after the company partnered with Palantir Technologies PLTR to integrate its AI data cloud with Palantir's artificial intelligence platform. Palantir stock rose nearly 1% following the announcement.

The collaboration aims to give customers across commercial and public sectors more secure, efficient data pipelines and faster access to analytics and AI applications.

Power management company Eaton (ETN), a mutual client, said the partnership is already helping eliminate duplicate data and speed up AI application development.

Snowflake Chief Revenue Officer Mike Gannon said the collaboration will help customers deploy intelligent applications more easily and accelerate their return on data investments.

Palantir executive Ted Mabrey added that the companies' combined tools will provide first-class interoperability, positioning customers to better leverage AI across industries.

The partnership highlights ongoing momentum in enterprise AI integration as major tech firms seek to strengthen data infrastructure and meet rising demand for AI-enabled insights.