After bumping 2.9% higher yesterday, UiPath (PATH 6.69%) is maintaining its upward trajectory today. Investors are racing to buy shares of the automation platform provider after the company reported several announcements this morning, pointing to its growing adoption of artificial intelligence (AI) solutions.
As of 9:50 a.m. ET, shares of UiPath are up 14.9%.
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It's not just one partnership with an AI leader that has investors excited today
UiPath announced today that it will partner with Nvidia on a more advantageous solution that provides AI capabilities to strengthen their existing automated workflows in high-trust scenarios like fraud detection or healthcare. The new offering will offer customers an Integration Service Connector that connects UiPath and Nvidia's NIM, which accelerates deployment of generative AI, as well as Nemotron, reasoning models that enhance AI deployment.
Partnering with OpenAI, UiPath announced today that it will work to develop a ChatGPT connector that integrates OpenAI frontier models with UiPath's enterprise orchestration to provide enhanced enterprise customer workflows. According to UiPath, the two companies are "creating a benchmark for using computer-use models in agentic automation."
A third partnership that UiPath announced today is with cloud computing leader Snowflake, which will see the two companies bring together UiPath's Agentic Automation platform with Snowflake's Corex AI, a platform for building AI agents. Graham Sheldon, UiPath's chief product officer, lauded the collaboration, stating, "By combining Snowflake Cortex AI with the UiPath Platform, customers can turn trusted insights into orchestrated action without reworking their existing systems."
Do these new partnerships suggest that UiPath stock is a buy now?
The several announcements that UiPath announced today are encouraging, and they demonstrate the company's commitment to remaining at the forefront of AI innovation. Even before today's announcements, UiPath was a compelling consideration, and today's news just adds to the bull case.
