Spire Global Inc (NYSE:SPIR) shares soared almost 25% in Tuesday’s early trading after the space data and analytics company unveiled a new partnership with Nvidia.
Announced on Monday, the collaboration will see the pair work to advance artificial intelligence-driven weather prediction.
Spire’s radio occlusion data will be incorporated with Nvidia’s Earth-2 cloud application programming interface, which it said would “usher in a new era of accuracy in weather forecasting”.
“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,” Spire weather and climate manager Michael Eilts said.
“Aligning Spire’s proprietary data and unmatched global weather coverage with Nvidia’s cutting-edge technology and expertise positions us to markedly elevate the accuracy of weather prediction.”
Spire added the use of such AI-driven models would allow forecasting products to be made that have so far been “computationally infeasible”.
Shares in the firm jumped 24.4% to US$15.27 on the news.