Snowflake, Inc. (NYSE:SNOW) shares are trading higher on Tuesday. The company announced today that it will partner with Meta (NASDAQ:META) to host its Llama 3.1 collection of multilingual open source large language models (LLMs) in Snowflake Cortex AI.

What Happened: Snowflake's AI Research team optimized Llama 3.1 for both inference and fine-tuning, providing a 128K context window, up to 3x lower latency and 1.4x higher throughput compared to existing solutions.

"Snowflake's world-class AI Research Team is blazing a trail for how enterprises and the open source community can harness state-of-the-art open models like Llama 3.1 405B for inference and fine-tuning in a way that maximizes efficiency," said Vivek Raghunathan, vice president of AI engineering at Snowflake.

Alongside the launch of Llama 3.1 405B, Snowflake's AI Research Team is open-sourcing its advanced LLM inference and fine-tuning optimization stack, developed in collaboration with DeepSpeed, Hugging Face, vLLM and the AI community.

This software is designed to address issues related to memory requirements and model scale, and by making it open source, it will be accessible to a broader range of users.

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SNOW Price Action: At the time of writing, Snowflake stock is moving 1.42% higher at $133.01 per data from Benzinga Pro.

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