Snowflake rises on report it's discussing acquiring search firm Neeva
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Stock in database company Snowflake (NYSE:SNOW) stock rose 3% after hours Wednesday alongside a report that the company is in talks to acquire search start-up Neeva.
That in turn could boost Snowflake in artificial intelligence software that companies use for internal information searches -- an area where it could do some catching up to similar offerings from cloud units at Microsoft (MSFT) and Google (GOOG) (GOOGL), The Information noted.

Neeva, founded in 2019 by former Google ad-tech exec Sridhar Ramaswamy, is in advanced talks to be acquired by Snowflake, according to the report. Its private pre-money valuation was about $250M at the time of its last announced funding round, in 2021.
And Neeva has also shopped itself to Snowflake rival Databricks, the report noted.
Neeva mainly sells an ad-free Web search for consumers but has developed software merging search with the large language models that have recently become very hot topics.