Databricks secures $62 billion valuation in AI-focused funding round

(Reuters) - Databricks said on Tuesday it had secured a valuation of $62 billion after a $10 billion funding round led by Thrive Capital, highlighting the robust demand for artificial intelligence-focused startups.

The data and analytics company will invest the funds in new AI products and acquisitions while expanding its international footprint.

The massive fundraise highlights Silicon Valley's unprecedented appetite for companies capitalizing on the AI boom.



Investment firms Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management co-led the round. Ontario Teachers' Pension Plan, ICONIQ Growth, MGX, Sands Capital, and Wellington Management also participated.

Reuters reported last week that the round could exceed the company's original goal and was higher than previously discussed earlier.

Source: Investing.com