Databricks secures 5B funding at 190B valuation
Databricks announced that it has raised $5 billion in a new funding round, valuing the company at approximately $190 billion, to strengthen its investments in artificial intelligence products. This round comes six months after a previous valuation of $134 billion, amid strong investor demand. The company plans to use the proceeds to invest in products such as the database "Lakebase," the AI assistant "Genie," and the platform "Unity AI Gateway," with "Lakebase" generating over $100 million in revenue, and revenue from the "Lakehouse" data warehouse business exceeding $1.5 billion annually. Headquartered in San Francisco, the company competes with firms like Snowflake and is considered a potential candidate for an initial public offering in the future.
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