Techub News reported that according to Bloomberg, Databricks, a big data and artificial intelligence company, announced that it has completed a $10 billion J round of financing at a valuation of $62 billion, led by Thrive Capital, and participated by Andreessen Horowitz, DST Global, GIC Pte Ltd., Insight Partners, WCM Investment Management, Lightspeed Venture Partners, etc. This round of financing will be used to invest in new artificial intelligence products, acquisitions, and significantly expand its international market business. It will also be used to purchase shares held by current and former employees, and will also be used to pay taxes related to employee stock sales.
The software developed by Databricks can obtain, analyze, and build artificial intelligence applications from various sources. The company's main competitors are generally considered to be Snowflake Inc. and services provided by cloud infrastructure providers such as Microsoft Fabric.