HomeBusinessWhat's going on with Snowflake stock on Thursday?

What’s going on with Snowflake stock on Thursday?

What’s going on with Snowflake stock on Thursday?

Databricks announced the open source of its three-year-old Unity Catalog platform at its annual Data and AI Summit.

The previously proprietary platform will now be available under an Apache 2.0 license, allowing other companies to use and modify the underlying architecture and code without incurring costs.

The Unity Catalog will also include an OpenAPI specification, server and clients, allowing companies to access and manage their data and AI assets without being tied to a vendor.

This important move by Databricks allows organizations to use the Unity Catalog with their favorite tools, including an extensive ecosystem of Delta Lake and Apache Iceberg-compatible query engines, VentureBeat reports.

This comes shortly after Databricks’ competitor, Snowflake Inc (NYSE:SNOW), introduced its open catalog implementation, Polaris Catalog, which will be open source for the next 90 days. Snowflake stock is trading lower on Thursday.

The Unity Catalog’s open APIs ensure compatibility with major cloud platforms such as Microsoft Azure, AWS, GCP and Salesforce and compute engines such as Apache Spark, Presto, Trino and others.

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Snowflake is facing criticism after data breaches involving major customers such as Santander Bank and Ticketmaster.

Alphabet Inc (NASDAQ GOOG) (NASDAQ:GOOGL) cybersecurity subsidiary Mandiant identified a threat campaign targeting Snowflake customer database instances to steal data and extort victims.

Price promotion: SNOW shares were trading 2.23% lower at $127.43 at last check on Thursday.

Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga’s editorial staff.

Photo via Shutterstock

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This article What’s going on with snowflake stocks on Thursday? originally appeared on Benzinga.com

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