Report: Databricks Close to Raising Record $9.5 Billion Amid AI Boom

Databricks is reportedly nearing the completion of a $9.5 billion funding round, potentially making it one of the largest venture capital rounds ever. This deal, which could still increase before finalization, would value the data analytics firm at over $60 billion. Databricks, which specializes in AI applications, is poised to benefit from the AI boom, similar to OpenAI and xAI's recent significant raises. The company previously raised over $500 million in September 2023, valuing it at $43 billion. Databricks aims to unify data, analytics, and AI on a single platform, enhancing customer insights and generative AI solutions.

In recent developments, Databricks has collaborated with Enigma to provide financial health intelligence for SMBs and partnered with Mastercard to launch a generative AI-powered digital assistant. Additionally, Databricks introduced an AI-powered business intelligence product, Databricks AI/BI, featuring interactive dashboards and a conversational interface called Genie. This product is designed to democratize access to analytics and insights within organizations. The company continues to innovate in AI technology, working alongside partners like Nvidia to deliver transformative solutions.

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Databricks is reportedly close to raising $9.5 billion in a funding round, potentially valuing the company at over $60 billion.
The company aims to capitalize on the AI boom, offering tools related to AI applications, similar to OpenAI and xAI's recent funding successes.
Databricks is collaborating with companies like Nvidia and Enigma to enhance AI technology and deliver financial health intelligence to SMBs.
In collaboration with Mastercard, Databricks helped launch a generative AI-powered digital assistant, showcasing its Data Intelligence Platform capabilities.

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Report: Databricks Close to Raising Record $9.5 Billion Amid AI Boom | PYMNTS.com

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