According to ChainCatcher, artificial intelligence company Databricks announced the completion of a round of financing, raising $10 billion and bringing its valuation to $62 billion.
The company plans to use the funds to recruit AI talents, invest in new products and mergers and acquisitions opportunities. The oversubscription was led by Thrive Capital, and participated by many well-known investment institutions such as Andreessen Horowitz and DST Global.
Databricks expects to achieve positive free cash flow in the quarter ending Jan. 31 and forecasts revenue of $3.8 billion in fiscal 2024.
