news 
Databricks is on track to raise a record $9.5+ billion round at $60B valuation
According to the latest reports, Databricks is poised to secure a monumental funding round of over $9.5 billion at an astonishing valuation of $60 billion. This massive infusion of capital would not only surpass previous records but also cement the company’s position as a dominant force in the tech industry.
The impending deal, led by Thrive Capital, would see Databricks bring on board returning investors Andreessen Horowitz, Insight Partners, and Singaporean sovereign wealth fund GIC. Notably, this round would eclipse OpenAI’s October funding of $6.6 billion, previously considered the largest in history.
Furthermore, it is proposed that Databricks may also assume a significant amount of debt totaling $4.5 billion as part of this deal. This unprecedented scale of investment underscores the immense trust investors have in the company’s vision and growth prospects.
What’s more, industry experts believe that the reported $92.50 per share price represents an extraordinary value proposition, considering Databricks’ primary competitor Snowflake has achieved a market cap of approximately $56 billion following its successful IPO.
Source: techcrunch.com
