06:01 AM EDT, 05/17/2024 (MT Newswires) -- Snowflake (SNOW) is in negotiations to acquire startup Reka AI for over $1 billion, aiming to enhance its generative AI capabilities, Bloomberg reported, citing people familiar with the matter.

Reka AI, founded in 2022, develops large language models for tasks like image captioning and customer support chatbots.

The acquisition talks are still ongoing and there is no guarantee of a deal, according to the report.

Snowflake and Reka AI did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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