Follow Us "Spire Global Stock Jumps After Launching Weather Models Built On Nvidia’s Tech, Retail Stays Bearish")
The company said the two AI models would be developed on the NVIDIA Omniverse Blueprint for Earth-2.
Spire Global (SPIR) stock rose 9.6% in after-hours trading on Tuesday after launching two advanced AI weather models built on Nvidia’s technology.
The company said the two models, AI-WX and AI-S2S, would be developed on the NVIDIA Omniverse Blueprint for Earth-2 and deliver medium-range and sub-seasonal forecasts.
The Earth-2 platform features a range of AI-based weather models and tools for visualizing and simulating the planet.
The company said these models would integrate Spire’s extensive satellite network data, including atmospheric profiles, soil moisture readings, and ocean surface winds. Its customers include Freepoint Commodities and Dominion Energy.
Spire said the models provide probabilistic forecasts, offering a range of possible weather outcomes rather than a single prediction.
"These models not only predict weather events with unprecedented accuracy, but they also enhance our understanding of weather, enabling energy providers and commodity trading firms to optimize operations and increase both efficiency and profitability in the face of unpredictable weather patterns," said Michael Eilts, an executive at Spire.
Retail sentiment on Stocktwits remained in the ‘bearish’ (32/100) territory, while retail chatter was ‘normal.’
One user said was pleased to see the partnership with Nvidia and hoped for more positive updates.
Earlier this month, the company had announced plans to raise $40 million through a private placement deal.
In February, the stock tumbled due to concerns about closing its maritime business sale to Kpler Holding.
The company had said that all closing conditions in the purchase agreement had been or could be satisfied. However, despite notifying the buyer, it failed to consummate the closing.
The Vienna-based company expected the transaction to close in the first quarter.
Spire stock has fallen 39.5% year-to-date (YTD).
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