New updates have been reported about Databricks (PC:DTBRK)
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Databricks has announced the signing of a term sheet for its Series K funding round, which is expected to close shortly with the support of existing investors. This new round of investment values the company at over $100 billion. The capital will be directed towards accelerating Databricks’ AI strategy, specifically focusing on the expansion of its AI product, Agent Bricks, and the development of its new database offering, Lakebase. These initiatives are aimed at enhancing the company’s global growth and supporting future AI acquisitions and research.
At the recent Data + AI Summit, Databricks introduced Agent Bricks, a product designed to create high-quality AI agents optimized for enterprise data, and Lakebase, an operational database built on open source Postgres and optimized for AI agents. The company’s CEO, Ali Ghodsi, highlighted the significant investor interest driven by the momentum of their AI products, which are utilized by major global businesses. Databricks’ platform, used by over 15,000 customers, including partnerships with tech giants like Microsoft and Google Cloud, enables organizations to leverage their data for AI applications, driving innovation and efficiency. This latest investment reflects the growing demand for AI solutions and positions Databricks to further capitalize on the global AI market.