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Databricks Clinches $43 Billion Valuation, Plans More AI Tools

by YourTech Story YourTechStory is all about stories of products, te

Databricks Inc., a leading software provider in the field of data and analytics, has secured a staggering $500 million in new funding, skyrocketing the company’s valuation to a remarkable $43 billion. 

This significant funding round, led by T. Rowe Price and featuring participation from strategic investors Nvidia Corp. and Capital One Financial Corp., underscores Databricks’ unwavering commitment to advancing AI tools. Databricks’ CEO, Ali Ghodsi, expressed his enthusiasm for the strategic partnership with Nvidia, saying, “We’re very excited about this strategic partnership with Nvidia to build custom large language models.” These models are in high demand by corporations eager to harness their capabilities to work with vast data sets and respond to human-phrased queries effectively. Ghodsi added, “This investment lets us double down on our generative AI strategy.”

Read more: https://www.yourtechstory.com/2023/09/19/databricks-clinches-43-billion-valuation-plans-more-ai-tools/

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Created on Sep 19th 2023 01:19. Viewed 92 times.

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