The strong demand for businesses focused on artificial intelligence was demonstrated by Databricks’ announcement on Tuesday that it had obtained a valuation of $62 billion following a $10 billion investment round headed by Thrive Capital.
The data and analytics firm will use the money to expand globally, make acquisitions, and invest in new AI products.
The enormous fundraising effort demonstrates Silicon Valley’s unparalleled desire to support businesses leveraging the AI revolution.
The investment companies Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management co-led the round.
Wellington Management, MGX, Sands Capital, ICONIQ Growth, and the Ontario Teachers’ Pension Plan all took part.
Last week, it was reported that the financing was greater than previously mentioned and could surpass the company’s initial aim.
