Databricks raises $10 billion

databricks

After an investment round and additional loan, Databricks is $15 billion richer. With the fresh capital, Databricks plans to develop new AI products and expand its operations.

Databricks is on a rapid rise in the technology sector. As a data and AI specialist, the company is taking full advantage of the unquenchable hype surrounding artificial intelligence. With a press release, Databricks announced funding of fifteen billion dollars.

$10 billion of that has been raised from investors. The most notable name in the list of investors is Meta. As an extension of the investment, the two companies will also deepen their collaboration around AI technology. Earlier, Microsoft courted Databricks .

Other investors are mainly venture capital firms from the United States and the Middle East. Databricks is also closing a 5.2 billion credit loan to complete the financing.

Investing in AI

Databricks plans to invest this capital in new AI products, strategic acquisitions and expanding its international go-to-market business. It is now no secret that AI development comes with high costs that do not immediately pay for themselves.

Founder and CEO Ali Ghodsi says there was “overwhelming interest” in supporting Databricks financially. “Organizations are modernizing their data and AI infrastructure as they recognize the immense potential of generative AI. Data intelligence is crucial to unlocking this potential and helping companies achieve their business goals,” Ghodsi adds.