Space data and analytics company Spire Global rocketed Tuesday after announcing late Monday a partnership with Nvidia. It's designed to advance its artificial intelligence-driven weather prediction offerings.
Vienna, Va.-based Spire Global is a global provider of space-based data, analytics and services. Further, it offers information on weather intelligence, ship and plane movements. The company also provides spoofing and jamming detection for security purposes.
The company, a Russell 2000 component, builds, owns and operates its fully-deployed satellite constellation that observes Earth data in real time via radio frequency technology.
Through the partnership, Spire will integrate its Radio Occultation (RO) data and proprietary data assimilation (DA) capabilities with Nvidia Earth-2 Cloud APIs. That will allow it to leverage AI to accelerate climate and weather predictions. Spire says by combining its data sets and analysis with Nvidia's AI platforms and APIs, the company "aims to usher in a new era of accuracy in weather forecasting."
Additionally, Spire's AI Weather Forecasting suite offers information on ocean winds, soil moisture, temperature and various atmospheric weather data sets and forecasts. It services customers across various industries including energy, agriculture, logistics, utilities and more. Spire AI Weather Forecasting customers include Chevron and the European Space Agency.
Spire Global Stock
SPIR stock leapt 30.4% Tuesday to its highest level since April 2022. Shares pushed well above their 10-day line on the move.
Spire Global stock soared 104% so far this year. SPIR rallied nearly 473% from its June 2023 lows, but it closed on Tuesday more than 89% below its September 2021 peak.
Meanwhile, NVDA stock climbed 1% Tuesday. Nvidia bolted 80.5% in 2024.
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