September 15, 2023
Databricks, a data lakehouse architecture and AI company, has raised $500 million in new funding at a $43 billion valuation. The round was led by T. Rowe Price and included Nvidia, Capital One Ventures, Ontario Teachers, Andreessen Horowitz, and other notable investors.
Databricks’ new valuation makes it one of the most valuable AI companies in the world. The company has grown rapidly in recent years, as more and more businesses adopt its data lakehouse platform to manage their data and deploy AI applications.
Databricks’ platform is particularly well-suited for large, complex datasets. It allows businesses to store and analyze all types of data, including structured, semi-structured, and unstructured data, in a single data lake. This makes it easier for businesses to get value from their data and build AI applications.
Databricks is also a major player in the open source AI community. The company is a founder of the Apache Spark project, one of the most popular open source big data processing frameworks.
Databricks is reportedly planning to go public in the near future. The company has already put all the necessary internal compliance processes in place. However, Databricks is waiting for other large tech companies to go public first before it makes its own move.
The sources for this piece include an article in Axios.
