Data warehousing giant Snowflake is reportedly in discussions to acquire artificial intelligence startup Reka AI for a whopping $1 billion, according to sources cited by Bloomberg. This potential acquisition could significantly boost Snowflake’s capabilities in the AI space and further solidify its position in the Market. Stay tuned for more updates on this developing story.
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Snowflake is in discussions to acquire Reka AI for more than $1 billion. The talks may not result in a transaction, according to a Bloomberg report late Thursday, which cited people familiar with the matter. A Snowflake spokesperson declined to comment to Bloomberg. Reka couldn’t be reached for comment.
Reka, an AI model startup founded by former researchers from Alphabet’s DeepMind, raised $50 million in a fundraising round, which valued the company at $300 million, according to a Reuters report last June. The fundraising round included funding from Snowflake’s venture arm.
This potential acquisition by Snowflake highlights the growing interest in the artificial intelligence sector and the importance of strategic partnerships in the tech industry. Stay tuned for further updates on this developing story.
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1. What is Snowflake’s plan to buy Reka AI?
Snowflake is in talks to purchase Reka AI for $1 billion, according to Bloomberg.
2. Why does Snowflake want to acquire Reka AI?
Snowflake likely sees potential value in Reka AI’s technology, talent, or Market position.
3. How much is Snowflake willing to pay for Reka AI?
Snowflake is considering a $1 billion purchase price for Reka AI.
4. What does the acquisition mean for Snowflake and Reka AI?
If the deal goes through, Snowflake will own Reka AI and may integrate its capabilities into its own products or services.
5. When is the acquisition expected to be finalized?
The acquisition is still in talks and may take some time to finalize, so there is no specific timeline for completion yet.
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