Databricks Is Raising $10 Billion, in One of the Largest Venture Capital Deals

Published On Dec 17, 2024, 4:15 PM

Artificial intelligence startup Databricks has raised a significant $10 billion in a new funding round, bringing its valuation to $62 billion. This funding round reflects ongoing investor enthusiasm in the AI sector, despite challenges faced by other AI startups in the market. Databricks, founded in 2013, focuses on software tools for data analysis and storage and has recently shifted its approach to emphasize AI solutions. The company expects to reach a revenue run rate of over $3 billion and maintain positive cash flow in early 2025, highlighting its growth potential and stability, especially among large clients like Shell and Comcast.