Snowflake's negotiations to acquire the generative AI startup Reka AI for over $1 billion have collapsed. The deal was aimed at integrating more generative AI technology into Snowflake's offerings. Reka AI, founded in 2022 by former Google and Meta engineers, specializes in building large language models for businesses. The reasons behind the breakdown of the talks remain unclear.
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scoop: Snowflake's talks to acquire generative startup Reka AI for over $1B have broken down. Reporting earnings today alongside NVIDIA. $SNOW $NVDA With @rachelmetz https://t.co/WObdCeuFpH
scoop: Snowflake's talks to acquire generative startup Reka AI for over $1B have broken down. Reporting earnings today alongside NVIDIA. $SNOW $NVDA https://t.co/WObdCeuFpH
Sources: Snowflake's talks to acquire Reka AI, which builds LLMs for businesses, for more than $1B have broken down (Bloomberg) https://t.co/OBIqMFHEbn 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/ivWbElPubK
Snowflake’s $SNOW talks to acquire startup Reka AI for more than $1 Billion have reportedly broken down - Bloomberg
$SNOW Snowflake deal to acquire Reka AI for $1bn has apparently has broken down...unclear who backed out and why... Snowflake earnings are coming out on Wed $SNOW released its own large language model called Arctic in April...Reka was started in 2022 by $GOOG & $META engineers
Snowflake’s talks to acquire startup Reka AI for more than $1 billion have broken down, dashing an effort to bring more generative AI technology in-house https://t.co/keQO5P8HyO