Here's How Much Snowflake Spent on Research and Development Last Quarter

Snowflake's (NYSE: SNOW) flagship product is the Data Cloud, which helps organizations break down data silos to extract more value from the information they harvest from their operations. Since data is the key to developing the most powerful artificial intelligence (AI) models, Snowflake is in the perfect position to build products for that industry.The company launched its Cortex AI platform in 2023, which allows businesses to combine their data with ready-made large language models (like Meta Platforms' Llama 3) to create AI software applications. Plus, Cortex comes with pre-built AI tools like Document AI, which allows developers to quickly extract valuable data from unstructured sources like contracts and invoices. Snowflake loses money each quarter because it invests heavily in growth initiatives like research and development, which is its largest cost. While many tech companies have tried to manage their expenses over the last couple of years, that hasn't been so easy for Snowflake because of its focus on rolling out new AI products and services.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool