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Spire Global and NVIDIA see potential in using AI to predict weather

Spire Global on the New York Stock Exchange, August 17, 2021.

Source: New York Stock Exchange

Artificial intelligence has been instrumental in weather forecast modeling for many years. Recent advances in generative AI hold the promise of eventually increasing accuracy.

That's what Spire Global is betting on with its latest effort. announced Partnership with AI Darling Nvidia.

“What deep learning, neural networks and generative AI have done is shift a little bit of power from people who have access to supercomputers to people who have access to superdata,” said Spire Global CEO and co-founder. said one Peter Platzer. told CNBC morgan brennan In an interview with CNBC's “Manifest Space” Podcast.

“Because the supercomputer side where the model is located has been replaced with an ultra-efficient GPU” [graphics processing units]“What used to take eight hours can now be done in eight seconds,” he explained. [Nvidia] As the partnership became available, we jumped on it. ”

Twelve-year-old Spire Global is in the radio frequency sensing business, operating a fleet of satellites that collect space-based radio frequency data that can be analyzed and sold as a service. It provides information on weather and climate, the movements of ships and aircraft, and also operates a space services business.

But the opportunities for weather forecasting are huge. From trade to agriculture to power generation, a third of the world's economy (equivalent to about $30 trillion of global GDP) depends on the weather, Platzer said.

He estimates that there are approximately 175 major use cases for weather forecasting, across up to 200,000 customers or customer types worldwide. In other words, the demand for accurate forecasts is greater than ever, especially as lead times get longer.

Follow and listen on CNBC Podcast “Manifest Space”Get the podcast wherever you are, hosted by Morgan Brennan.

So what does this collaboration with Nvidia mean? “This gives us access to their infrastructure to deliver more valuable products and new use cases to help our customers better.” We will be able to provide better service, and our customers will be able to access our data to improve their modeling and machines,” said Platzer.

Nevertheless, he noted that “there is no immediate economic flow from Nvidia to Spire or vice versa at this time.”

Investors reacted positively to this news, as did a growing list of companies collaborating with leading players in the semiconductor industry. GTC Developer Conference March.

Nvidia CEO Jensen Huang announced on stage a “digital twin” of the Earth called Earth-2. It essentially combines an open cloud platform with satellite data from Nvidia's generative AI models CorrDiff and Spire to improve existing weather and climate prediction models.

Spire Global is SPAC merger in 2021rose by about 40% in response.

Spire subsequently raised $30 million through a direct offering of common stock to two institutional investors, which closed last week.

“There were a lot of investors vying to be part of the Spire story,” Platzer said. “For us, that means we can hit our balance sheet, lower our cost of capital, increase our flexibility… lower debt payments, higher free cash flow, which helps us. “The Path to Free Cash Flow Profitability.” ”

Spire Global expects to become free cash flow positive by this summer or the third quarter of 2024.

Summarize this content to 100 words Spire Global on the New York Stock Exchange, August 17, 2021.Source: New York Stock ExchangeArtificial intelligence has been instrumental in weather forecast modeling for many years. Recent advances in generative AI hold the promise of eventually increasing accuracy.That's what Spire Global is betting on with its latest effort. announced Partnership with AI Darling Nvidia.“What deep learning, neural networks and generative AI have done is shift a little bit of power from people who have access to supercomputers to people who have access to superdata,” said Spire Global CEO and co-founder. said one Peter Platzer. told CNBC morgan brennan In an interview with CNBC's “Manifest Space” Podcast. “Because the supercomputer side where the model is located has been replaced with an ultra-efficient GPU” [graphics processing units]“What used to take eight hours can now be done in eight seconds,” he explained. [Nvidia] As the partnership became available, we jumped on it. ”Twelve-year-old Spire Global is in the radio frequency sensing business, operating a fleet of satellites that collect space-based radio frequency data that can be analyzed and sold as a service. It provides information on weather and climate, the movements of ships and aircraft, and also operates a space services business.But the opportunities for weather forecasting are huge. From trade to agriculture to power generation, a third of the world's economy (equivalent to about $30 trillion of global GDP) depends on the weather, Platzer said.He estimates that there are approximately 175 major use cases for weather forecasting, across up to 200,000 customers or customer types worldwide. In other words, the demand for accurate forecasts is greater than ever, especially as lead times get longer.Follow and listen on CNBC Podcast “Manifest Space”Get the podcast wherever you are, hosted by Morgan Brennan.So what does this collaboration with Nvidia mean? “This gives us access to their infrastructure to deliver more valuable products and new use cases to help our customers better.” We will be able to provide better service, and our customers will be able to access our data to improve their modeling and machines,” said Platzer.Nevertheless, he noted that “there is no immediate economic flow from Nvidia to Spire or vice versa at this time.”Investors reacted positively to this news, as did a growing list of companies collaborating with leading players in the semiconductor industry. GTC Developer Conference March.Nvidia CEO Jensen Huang announced on stage a “digital twin” of the Earth called Earth-2. It essentially combines an open cloud platform with satellite data from Nvidia's generative AI models CorrDiff and Spire to improve existing weather and climate prediction models.Spire Global is SPAC merger in 2021rose by about 40% in response.Spire subsequently raised $30 million through a direct offering of common stock to two institutional investors, which closed last week.”There were a lot of investors vying to be part of the Spire story,” Platzer said. “For us, that means we can hit our balance sheet, lower our cost of capital, increase our flexibility… lower debt payments, higher free cash flow, which helps us. “The Path to Free Cash Flow Profitability.” ”Spire Global expects to become free cash flow positive by this summer or the third quarter of 2024.
https://www.cnbc.com/2024/04/05/spire-global-nvidia-see-potential-in-using-ai-to-help-predict-weather.html Spire Global and NVIDIA see potential in using AI to predict weather

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