MarTech News: Round-Up 30/06/23

This Week in Martech:👥 Snowflake and Nvidia Partner 👥 Artefact and Treasure Data Partner  👥 Pelican Energy Partners and Blue Wave AI Labs Partner ✍️ Databricks Acquires MosaicML for $1.3B... and more!

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Snowflake and Nvidia Partner

Nvidia and Snowflake have joined forces in a new collaboration that enables companies to develop their own generative AI assistants using their proprietary data.
Snowflake's customers will gain access to Nvidia's GPU-accelerated computing capabilities and their foundational large language model (LLM), NeMo.
This partnership empowers customers to leverage their business data and create advanced generative AI services, including chatbots, search functionalities, and summarization tools.

Artefact and Treasure Data Partner

Artefact, an international data services company, and Treasure Data, a provider of enterprise customer data platforms (CDP), have officially formed a strategic partnership.
The primary goal of this collaboration is to enhance the value of clients' marketing campaigns while delivering personalised customer experiences.
By combining the AI-enabled suite of CDP solutions from Treasure Data with Artefact's comprehensive consultancy services, the partnership aims to optimise the utilisation of first-party data. This synergy ultimately leads to improved business value and return on investment (ROI) for clients.

Pelican Energy Partners and Blue Wave AI Labs Partner

Houston-based private equity firm, Pelican Energy Partners, specialising in investments in energy services and equipment companies, has made a significant investment in Blue Wave AI Labs LLC.
The partnership with Pelican Energy Partners will provide Blue Wave with opportunities to broaden its customer base, expand its geographic reach, and enhance its product offerings in response to increasing customer demand.

Databricks Acquires MosaicML for $1.3B

Databricks, a prominent enterprise software unicorn backed by Andreessen Horowitz, has successfully acquired MosaicML, a generative AI startup, in a deal worth approximately $1.3 billion.
This acquisition aims to facilitate companies in training large language models on their exclusive data.

Snowflake Announces its LLM

At the annual user conference, Snowflake Summit 2023, Snowflake, the Data Cloud company, announced groundbreaking enhancements to its unified platform.
These advancements streamline data utilisation for organisations, ensuring improved performance for critical workloads.
Snowflake also unveiled Document AI (private preview) and a new LLM developed through Applica's innovative generative AI technology. These additions empower customers to comprehend documents and harness the potential of unstructured data.

Acryl Data Raises $21 Million

Open-source data catalogue provider, Acryl Data, has successfully raised $21 million in Series A funding. The funding round was led by 8VC, with participation from Ram Shriram, Founder of Sherpalo Ventures, and Guillermo Rauch, Founder and CEO of Vercel.

ThoughtSpot Acquires Mode Analytics

ThoughtSpot, an artificial intelligence-powered analytics company, has reached a definitive agreement to acquire Mode Analytics, a business intelligence platform, for $200 million. Cooley, the legal advisor, assisted ThoughtSpot in this transaction.
The acquisition aims to combine the technologies of ThoughtSpot and Mode Analytics, enabling data teams to leverage generative AI for transformative business intelligence and scalable improvements.

MarTech News Round-up – over and out.

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