Snowflake Looks to an AI Deal to Jump-Start Growth

Offering Cohere's AI models could boost revenue at Snowflake, where growth has slowed recently

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Snowflake had been riding high before the artificial intelligence boom. But questions about the usefulness of its data management products for AI developers—a growing source of revenue for rivals like Databricks—and a broader pullback in business software spending have sent its stock plummeting 42% so far this year.

Now, in an effort to jump-start slowing revenue growth, Snowflake is discussing a partnership with Canadian AI model developer Cohere that would allow Snowflake customers to use Cohere’s models in AI-powered applications, such as customer service chatbots or coding assistants, according to a person directly involved in the deal.