Databricks, the AI and data analytics company co-founded by Romanian researchers Ion Stoica and Matei Zaharia, is reportedly close to securing a new $5 billion funding round, according to The Information as cited by News.ro. The deal would raise the company’s valuation to roughly $134 billion.
This new round would come only three months after the $1 billion investment secured in September, which boosted Databricks’ valuation to $100 billion. Should the latest negotiations conclude successfully, Databricks’ valuation would increase by 116% in a single year, considering that in December of last year the company was valued at $62 billion.
Read full article here: turnovernews.com
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