Why Data Analytics Company Spire Global Shares Are Surging Today

Data analytics company Spire Global Inc SPIR shares are surging after the company said it is collaborating with NVIDIA Corp NVDA to advance AI-driven weather prediction. 

Through the partnership, Spire’s Radio Occultation (RO) data and proprietary data assimilation (DA) capabilities will be integrated with NVIDIA Earth-2 Cloud APIs to make use of AI to boost climate and weather predictions.

Spire’s multipurpose constellation of satellites, utilizing RO technology, offers coverage of precise vertical profiles of temperature, pressure, and humidity across the globe.

By linking the dataset and Spire’s proprietary DA analyses with NVIDIA’s advanced AI platforms and APIs, the partnership aims to increase the accuracy in weather forecasting.

Spire will aim to deliver differentiated forecast products that are computationally infeasible using traditional NWP models.

These capabilities will enhance Spire’s core products, such as the DeepVision weather risk mitigation platform, maritime route optimization, and renewable energy power forecasts. 

“As our world grapples with dynamic shifts in climate, anticipating and mitigating the impact of extreme-weather events poses escalating challenges for companies, individuals, and communities,” said Michael Eilts, general manager of weather and climate at Spire.

Price Action: SPIR shares are trading higher by 16.4% at $14.30 in premarket on the last check Tuesday.

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