Databricks Raises $10 Billion to Fuel AI and Global Expansion

Databricks, a data and AI company, announced it is raising $10 billion in a funding round led by Thrive Capital. The funds will support the development of new AI products, acquisitions, and international market expansion, with the company currently valued at $62 billion.

Databricks, a prominent player in the data and artificial intelligence sector, announced a significant capital infusion, securing $10 billion in a funding round spearheaded by Thrive Capital.

The San Francisco-based company aims to leverage these funds to develop innovative AI products, make strategic acquisitions, and broaden its international market reach, as detailed in their latest statement. The company's valuation now stands at an impressive $62 billion.

The funding round saw participation from notable investment firms including Andreessen Horowitz, DST Global, and GIC, as well as new entrants like ICONIQ Growth. CEO Ali Ghodsi expressed optimism about the company's future, citing a growing interest in AI as a catalyst for their 60% year-over-year growth.

(With inputs from agencies.)