Spire Global, Inc. (NYSE: SPIR) has entered into a multi-million-dollar deal with a financial firm to provide the firm’s High-Resolution Weather Forecast model, which offers a six-day outlook powered by proprietary data collected from space, and develop an AI-powered model for long-range forecasting.
Through this deal, Spire will build off of its recent collaboration with NVIDIA to leverage Earth-2, NVIDIA’s platform for weather and climate change modeling, to train and run AI weather models. These models are projected to increase the accuracy of weather forecasts and produce long-range probabilistic forecasts at unprecedented speeds.
Spire’s multipurpose constellation of satellites, using radio occultation technology, captures precise vertical profiles of temperature, pressure, and humidity across the globe, including under-observed areas and remote regions. By using these proprietary datasets to initialize an AI forecasting model, the Company aims to usher in a new era of accuracy, speed and reliability in weather forecasting.
Spire’s suite of Weather and Climate solutions, including its recently launched High–Resolution Weather Forecasts, DeepVision
, global weather forecasts, proprietary data sources like ocean winds and soil moisture, and additional atmospheric weather datasets, serves customers across various industries including energy, logistics, utilities, agriculture and more.
“Having spent my career in the field of weather, I’m amazed at the rapid pace by which we’re seeing AI transform weather forecasting, especially when paired with proprietary data that can only be collected from space,” said Michael Eilts, general manager of Weather & Climate at Spire. “As climate change causes more volatile and extreme weather patterns, our models are equipping financial firms with the crucial insights needed to anticipate weather’s influence on price dynamics and market trends.”