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Databricks in talks to raise funds at over $165 billion, The Information reports

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June 8 : Data analytics software firm Databricks has discussed raising funds in a round that could begin next month and value it at between $165 billion and $175 billion, The Information reported on Monday, citing sources.

Here are a few details:

• Databricks, one of the most valuable privately held companies, completed earlier this year a fundraising of about $5 billion at a $134 billion valuation.

• This is the latest sign of investors placing large bets on companies poised to benefit from the wider adoption of artificial intelligence. Tech giants are on track to invest billions of dollars, while the two largest AI firms, OpenAI and Anthropic, have filed their IPO paperwork.

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• Databricks offers a platform designed to help users ingest, analyze and build AI applications using complex data from various sources. The company said in February that it surpassed $5.4 billion in revenue run rate, up 65 per cent from the prior year.

• CEO Ali Ghodsi has privately indicated to investors the company is still IPO-bound, potentially as soon as next year, the report added.

• Databricks did not immediately respond to a Reuters request for comment.

Source: Reuters

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