Databricks raises $5 billion at a valuation of $55 billion

According to PANews, San Francisco-based AI company Databricks raised $5 billion in its latest round of financing, with a valuation of $55 billion.

Databricks plans to raise $8 billion in total, potentially the largest funding round this year, and the round will allow employees to sell shares, reducing the need for an initial public offering, which could take place in the second half of 2025.

The identities of investors participating in the financing were not disclosed, but supporters included Nvidia, Capital One, a16z, etc. In September 2023, Databricks raised $500 million with a valuation of $43 billion.

Openai holds the record for the largest financing in 2024, raising $6.6 billion. Xai and Anthropic received $5 billion and $400 million in financing respectively.