Databricks raises over $500 mln at $43 bln valuation

Published on September 19, 2023

Databricks, an AI-driven data analytics platform, announced a funding round that secured over $500 million, valuing the company at $43 billion. This funding, led by T. Rowe Price, signifies one of the most significant funding events for private tech companies this year within the AI sector. The company plans to utilize the funds to develop foundational models in collaboration with chipmaker Nvidia, a key player in AI computing. Databricks has been focusing on advancing AI capabilities, including the creation of a chatbot for business data analysis and the recent acquisition of MosaicML, a generative AI startup, in a $1.3 billion deal.

Link to the full article: https://www.reuters.com/technology/databricks-raises-over-500-mln-43-bln-valuation-2023-09-14/

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