Databricks, the Data and AI powerhouse, has announced the final close of its Series J funding round, raising $10 billion in equity financing and securing a $5.25 billion credit facility. The funding brings the company’s valuation to an impressive $62 billion. Notable new investors include Meta, Temasek, and entities administered by Macquarie Capital, while existing investor QIA, Qatar’s sovereign wealth fund, also participated.
The financing, combined with the credit facility led by JPMorgan Chase and other financial giants such as Barclays, Citi, Goldman Sachs, and Morgan Stanley, will be used to expand Databricks’ portfolio of AI products, drive acquisitions, and scale international go-to-market operations. A portion of the funds will also provide liquidity for employees and cover related tax obligations.
CEO Ali Ghodsi’s Vision for AI
Ali Ghodsi, Co-Founder and CEO of Databricks, highlighted the immense interest from both existing and new investors, emphasizing the increasing demand for AI infrastructure as organizations modernize to leverage the potential of generative AI. “Data intelligence is critical to unlocking AI’s potential and helping enterprises achieve their business goals,” he said.
The Role of Databricks’ Data Intelligence Platform
The Databricks Data Intelligence Platform plays a central role in democratizing data and AI, enabling organizations to innovate across industries. Built on an open-source foundation, the platform is designed for analytics, machine learning, and AI applications.
Databricks’ platform has been used by customers to address a variety of challenges, including early disease detection, combating climate change, detecting financial fraud, speeding up pharmaceutical development, and addressing mental health crises.
Strategic Momentum with Meta and Others
Meta’s strategic investment underscores Databricks’ influence in the AI ecosystem and its potential to further revolutionize the data and AI landscape. The additional funding and credit resources position Databricks to enhance its platform and extend its leadership in the rapidly growing AI market.
With a $62 billion valuation and strong investor confidence, Databricks is poised to continue driving transformative AI innovations and expanding its global impact.
