Databricks nears $9.5 billion funding round, valued over $60 billion, capitalizing on AI boom.

Databricks, a data analytics firm, is nearing a $9.5 billion funding round, potentially one of the largest in history, valuing the company at over $60 billion. The round, led by Thrive Capital, exceeds initial goals and will help the company buy back shares from early employees. Databricks is capitalizing on the AI boom, with plans to also take on $4.5 billion in debt. Competitor Snowflake has a market cap of around $56 billion.

3 months ago
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