Snowflake expands Microsoft partnership to bring generative AI to its data cloud

Snowflake Inc.
SNOW,
-0.85%
said Monday that it was expanding its partnership with Microsoft Corp.
MSFT,
-1.36%
to bring generative AI to its Data Cloud product. The announcement kicked off Snowflake’s Summit 2023 in Las Vegas this week. Microsoft, which also operates its own public cloud service Azure, has invested billions in OpenAI, the company behind the generative AI ChatGPT, which took artificial intelligence mainstream this year. In a statement, Snowflake said the expansion allows its data scientists and Microsoft’s to “build new integrations between the Data Cloud and Azure ML, and leverage integrations with Azure OpenAI and Microsoft Cognitive Services.” Data Cloud allows businesses to access their data from multiple sources and silos. Microsoft shares are up 38% year to date, and Snowflake’s are up 23%. Meanwhile, the Dow Jones Industrial Average
DJIA,
-0.04%,
which counts Microsoft among its 30 components, is up 1.5%, and the S&P 500 index
SPX,
-0.20%
has advanced 13%, and the tech-heavy Nasdaq Composite
COMP,
-0.53%
is up 28%.