Cloud data platform Snowflake announced its intent to acquire Crunchy Data, a Postgres database partner, late this afternoon. A source familiar with the matter estimated the deal to be worth around $250 million. The terms weren’t disclosed. Snowflake declined to comment on the deal’s valuation.

Analysts say that the chess match between Snowflake and Databricks isn’t about big data analytics anymore, but about becoming the 'AI-native data foundation unifying analytics, operational storage, and machine learning.

Snowflake has agreed to acquire database startup Crunchy Data, aiming to win over customers seeking to build their own artificial intelligence agents. The deal is valued at roughly $250 million, according to a person familiar with the matter.