Databricks in talks to raise funds at over $165 billion, The Information reports

June 8 (Reuters) - Data ‌analytics software ​firm ​Databricks has discussed raising funds in a round that could begin next ‌month and value it at between $165 billion ⁠and $175 billion, The Information reported on Monday, citing sources.

Here ‌are a few details:

• ‌Databricks, one of the most valuable privately held companies, completed earlier this year a ​fundraising of about $5 billion at a $134 billion valuation.

• This is the latest sign of ⁠investors placing large bets on companies poised to benefit from ​the wider adoption of artificial intelligence. Tech giants are on track to invest ​billions of dollars, while the ‌two largest AI firms, OpenAI and Anthropic, have filed their IPO paperwork.

• ⁠Databricks offers a platform designed to help users ingest, analyze and build AI applications using complex ⁠data from various sources. The company said in February ​that it surpassed $5.4 billion in revenue run rate, up 65% from the prior year.

• CEO Ali Ghodsi has ‌privately indicated to investors the company is still IPO-bound, potentially as soon ‌as next year, the report added.

• Databricks ⁠did not immediately ‌respond to a ​Reuters request for comment.

(Reporting by Carlos Méndez in Mexico City; Editing by Sherry ‌Jacob-Phillips)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• OpenAI revenue chief quits after less than a year
• Belgium's biggest wildfire on record heads towards Germany
• Crypto wallet provider SafePal discloses data breach affecting nearly 40,000 users' order information