Databricks said on Tuesday that it has raised more than $4 billion at a valuation of $134 billion, the latest example of investors betting big on companies benefiting from the broader adoption of artificial intelligence. The Series L funding round for Databricks, which provides a software platform that helps firms manage large amounts of data and build their own AI models, came less than six months after its previous round at a valuation of $100 billion.
It has given the San Francisco-based company a war chest to maintain investment momentum against competitors. “It’s a race, and everybody’s investing,” Databricks CEO Ali Ghodsi said in an interview. “We don’t want to fall behind. I think by investing a lot and raising this kind of capital in the past, we’ve been able to actually accelerate our growth.”
