Latest news with #SnowflakeCortex
Business Wire
06-05-2025
- Automotive
- Business Wire
Sigma Partners with Snowflake to Deliver Automotive Solutions for the AI Data Cloud
SAN FRANCISCO--(BUSINESS WIRE)--Sigma, the industry-leading analytics platform with unique cloud data platform writeback capabilities, today announced it has partnered with Snowflake to deliver automotive-specific solutions through the AI Data Cloud. Snowflake and Sigma are enabling automotive manufacturers, suppliers, and more to accelerate their digital transformation and unlock new revenue streams amidst unprecedented technological disruption. As the automotive industry looks to become more data-driven, Sigma is helping industry leaders transform business operations to eliminate data silos and manage connected vehicle data more effectively through advanced analytics, real-time connected vehicle insights, and secure data collaboration. 'The automotive industry is undergoing the most profound transformation in its history. To compete, OEMs must evolve from traditional mechanical manufacturers into data-driven software companies,' said Mike Palmer, CEO of Sigma. Share 'The automotive industry is undergoing the most profound transformation in its history. To compete, OEMs must evolve from traditional mechanical manufacturers into data-driven software companies,' said Mike Palmer, CEO of Sigma. 'Sigma and Snowflake are helping power that shift. By streaming real-time OT data into Snowflake and analyzing it in Sigma, manufacturers can instantly compute and drill into metrics—from company-wide KPIs to insights at the machine level—without the trade-offs of pre-aggregation or siloed systems. And with Sigma's data apps capabilities, users can automate workflows, take actions, and reduce friction in data collaboration, all within an accessible, secure environment. It's a unified, AI-powered interface built for speed, scale, and clarity.' Sigma and Snowflake, the AI Data Cloud company, provide automotive manufacturers, suppliers, dealers, and fleet managers with the tools they need to enact data-driven decisions based on the massive influx of data generated across their ecosystems without sacrificing security or governance standards. Together, automotive manufacturers can more efficiently reduce errors and identify systemic issues in manufacturing, improving quality, customer satisfaction, and overall process improvement. Through this collaboration, joint customers across the automotive manufacturing space have the technology capabilities to: Unlock Factory Floor Insights with AI: Ingest high-volume operational technology data from the factory floor at scale and analyze it using Snowflake Cortex with Sigma. Provide manufacturers and business leaders with an easy-to-understand natural language interface to ask real-time questions about Overall Equipment Effectiveness (OEE) and production metrics, accelerating decisions and driving operational improvements without the need for complex technical workflows. Integrate Data and Connect Silos Across the Automotive Lifecycle: Enable seamless data sharing across design systems, production environments, connected vehicles, service operations, and warranty systems to provide a holistic view of vehicle performance and customer experience. Accelerate development cycles, reduce operational costs, and deliver enhanced services by breaking down barriers between business units, systems, clouds, and partners. Leverage a Scalable and Performant Platform for Connected Vehicle Data: Support the massive data volumes generated by software-defined and autonomous vehicles with an architecture designed for high-resolution sensor and camera data. Decouple storage from compute to efficiently manage exponential growth while maintaining performance. Consolidate all vehicle streams into a single platform that scales without compromising accessibility or insights. Drive New Revenue Opportunities Through Data Monetization and Enhanced Customer Experiences: Create new revenue streams by securely sharing and monetizing automotive data products through Snowflake Marketplace. Gain a comprehensive view of customer interactions across all touchpoints to deliver personalized experiences and services. Enable secure collaboration with ecosystem partners while maintaining strict privacy controls and compliance. Optimize Supply Chain Resilience and Operational Efficiency: Gain real-time visibility across suppliers, inventory systems, and logistics partners to mitigate disruptions and reduce costs. Improve demand forecasting accuracy, minimize stockouts, and reduce excess inventory. Transform fragmented information systems into a unified platform that accelerates time to market and enables collaborative, data-driven decision-making. 'This launch aims to support our increasing number of automotive industry clients who are embracing key trends like autonomous driving technologies, electric vehicle innovation, and connected car ecosystems," said Tim Long, Snowflake Global Head of Manufacturing. "In this initiative, Sigma plays a vital role as a strategic partner. Our combined platform and solutions enable customers to unify their data, eliminate organizational barriers, and create new revenue streams. This collaboration helps businesses accelerate AI and ML innovation while improving operational efficiency, all within a secure and well-governed framework." For more information on Sigma and Snowflake, visit: About Sigma Sigma is business intelligence built for the cloud. With a spreadsheet UI, business users can work in the formulas and functions they already know, while more technical users can write SQL and apply AI models to data. Sigma queries the cloud warehouse directly, making it incredibly fast and secure—data never leaves the warehouse, and Sigma can analyze billions of rows in seconds. Beyond dashboards and reports, teams use Sigma to build custom data apps, which integrate live data with end-user input. Sigma is the first analytics platform to enable data writeback, and continues to lead the market with innovation across AI, reporting, and embedded analytics.
Yahoo
31-03-2025
- Business
- Yahoo
Why Snowflake (SNOW) Shares Are Plunging Today
Shares of data warehouse-as-a-service Snowflake (NYSE:SNOW) fell 5.2% in the morning session after anxiety and uncertainty rattled markets as the major stock indices pulled back in the morning session amid concerns about "reciprocal tariffs" to be announced later in the week. The planned tariffs, scheduled for April 2, 2025 (dubbed Liberation Day), were targeted at all countries where the United States had a trade deficit. Simply put, if a US trading partner imposed higher tariffs on American goods than the US did on theirs, the "reciprocal tariffs" would apply. The prospect of heightened trade tensions seemed to have stoked fears of stagflation (slower economic growth and elevated inflation) as the anticipated tariffs will likely raise input costs for businesses. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Snowflake? Access our full analysis report here, it's free. Snowflake's shares are somewhat volatile and have had 13 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 4 months ago when the stock gained 32.4% on the news that the company reported a strong "beat and raise" quarter. It was encouraging to see Snowflake exceed analysts' revenue expectations with a net revenue retention rate (NRR) that didn't fall at all from the previous quarter. During the earnings call, Snowflake emphasized its commitment to simplifying data workflows and integrating AI capabilities, such as Snowflake Cortex. These initiatives drove competitive displacement and increased customer adoption. Additionally, new products like Snowpark are contributing to revenue growth. Snowpark was expected to account for roughly 3% of total product revenue. On the AI front, Snowflake reported over 1,000 generative AI use cases deployed in production, and 3,200 customers utilizing its platform for AI and machine learning applications. This is another aspect of the business with a strong potential to accelerate growth as customers recognize the value that AI adds to their operations. Moving to the bottom line, operating margin in the quarter beat, and combined with the top-line improvements and cost efficiencies, EPS easily surpassed analysts' estimates. Looking ahead, Q4 product revenue guidance was ahead of analysts' expectations, adding to the good news. For the full year, guidance for product revenue, gross margin, and operating margin were all raised. Overall, this was a very good quarter, a relief for a company that had shown some uneven earnings performance in the previous year. Snowflake is down 7.7% since the beginning of the year, and at $145.42 per share, it is trading 24.6% below its 52-week high of $192.78 from February 2025. Investors who bought $1,000 worth of Snowflake's shares at the IPO in September 2020 would now be looking at an investment worth $572.68. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Sign in to access your portfolio
