New updates have been reported about Databricks (PC:DTBRK)
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Databricks is reportedly in discussions to secure additional funding, potentially elevating its valuation to at least $130 billion. This comes shortly after its recent Series J funding round in August, which valued the company at $100 billion. The anticipated increase in valuation underscores the company’s strategic initiatives and market positioning, particularly in the realm of AI and data intelligence.
CEO Ali Ghodsi previously highlighted the company’s focus on developing a database for AI agents and an AI agent platform, tapping into a $105 billion total addressable market. Notably, the creation of databases by AI agents has surged from 30% to 80% in just a year, reflecting a significant shift in the industry. Earlier this year, Databricks acquired open-source database startup Neon for $1 billion, marking a strategic move in the database sector. These developments suggest a robust growth trajectory for Databricks as it continues to innovate and consolidate its position in the market.