Snowflake (NYSE:SNOW) and Palantir (NASDAQ:PLTR) announced a partnership on Thursday to integrate Snowflake’s AI data cloud with Palantir’s artificial intelligence platform.
Snowflake shares jumped nearly 6% in premarket trading, while Palantir was up 1.5%.
As part of the deal, customers in both the commercial and public sectors will have more efficient and trusted data pipelines, as well as faster access to data analytics and AI applications.
Eaton, which is a customer of both Snowflake and Palantir, said the new partnership will help it remove data duplication, and boost development speed of AI applications. The power management company is among the first companies to see the benefits of the deal.
“Bringing the power of the Palantir and Snowflake platforms together is a natural fit, aimed at reducing friction for customers to more easily deploy intelligent apps and accelerate time to value,” said Snowflake Chief Revenue Officer Mike Gannon in a statement. “With this partnership, we’re providing our customers with the solutions they need today to be at the forefront of AI innovation, while also preparing them for the future by committing to close collaboration with the Palantir team to achieve their full potential through data and AI.”
“First class interoperability means our customers win,” Palantir executive Ted Mabrey added. “We are excited to partner with Snowflake to power our customers’ futures together, with Eaton setting the standard for what the AI-powered institution of the future will look like.”