Palantir Technologies and Snowflake on Thursday said they would partner to help companies modernize data for building and deploying artificial intelligence applications. Palantir stock and shares in Snowflake initially rose, then reversed down as the Nasdaq composite fell.
Back in May, Palantir announced a similar agreement with Snowflake rival Databricks.
"With this partnership, customers in the commercial and public sectors will be able to build more efficient and trusted data pipelines, faster data analytics, and AI applications," Palantir and Snowflake said in a news release.
The software makers said they are already working with Eaton, a power management company.
On the stock market today, Palantir stock initially climbed, then reversed down. Shares fell about 1.2% to 177.24 in midday trades. Palantir stock has advanced 139% in 2025.
Snowflake stock initially popped over 6%. But shares pulled back and were down 1.3% to 237.60 in recent action. The software stock holds a 249.99 flat-base entry. Snowflake stock has jumped 53%.
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What Snowflake And Palantir Do
Snowflake's data-management software runs on cloud-computing platforms. Privately held Databricks has been Snowflake's biggest rival.
Palantir provides data analytics tools to government customers for intelligence gathering, surveillance, counterterrorism and military purposes. Also, Palantir aims to leverage generative AI to spur growth in the U.S. commercial market, such as health care and financial services.
Palantir stock has boomed amid views that the company seems poised to win more U.S. government business during the Trump administration.
Palantir Stock Technical Ratings
According to IBD Stock Checkup, SNOW stock holds an IBD Composite Rating of 97 out of a best-possible 99. IBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating.
In addition, SNOW stock has an Accumulation/Distribution Rating of B. The rating, on an A+ to E scale, measures institutional buying and selling in a stock. A+ signifies heavy institutional buying; E means heavy selling.
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