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Snowflake is reportedly in talks to acquire AI startup company Reka AI for over $1 billion. This move comes as Snowflake aims to build the world's top AI ecosystem. The $2.67 billion company is looking to boost its generative AI innovation and capabilities through this acquisition. Snowflake has been investing in various AI companies, including Reka AI, as it seeks to expand its AI, apps, and expertise ecosystem. Snowflake's new CEO, Sridhar Ramaswamy, is an AI expert and has been leading the company's AI business before being named CEO in February. Additionally, Snowflake has also invested in AI startup Metaplane, which helps enterprises identify and rectify data quality issues with its AI platform. The company is expected to release its fiscal 2025 first quarter financial results on May 22, with analysts expecting a 26 percent increase in revenue year over year.
