Latest news with #SeriesK
Time of India
5 hours ago
- Business
- Time of India
Missed Snowflake's boom? Databricks' $100 billion AI leap could be Wall Street's next jackpot
Databricks $100 billion valuation latest news : For investors who watched Snowflake (SNOW) gain about 26% in 2025 but didn't invest in it, another data giant may be stepping into the spotlight, as per a report. Databricks Eyes $100 Billion Valuation Amid AI Growth Surge Databricks, a key rival to Snowflake in the cloud data and analytics space, is finalizing a new funding round that would value the company at $100 billion, which is a sharp jump from its $62 billion valuation in December, according to Investor's Business Daily report. That's more than a 60% increase in just eight months, as per the report. The San Francisco, California-based company, which has 15,000 customers, including Block, Shell, and Rivian, revealed that has signed a term sheet for a Series K round, as reported by Reuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn 57+ Languages Easily with AI [Join] Talkpal AI Sign Up Undo ALSO READ: Move over quiet quitting — as AI looms 'quiet cracking' is costing $438 billion and wrecking workers' health AI Momentum Driving Investor Interest in Databricks The company hasn't shared how much new funding it will raise, but investor enthusiasm is high, as co-founder and CEO, Ali Ghodsi said that 'We're seeing tremendous investor interest because of the momentum behind our AI products, which power the world's largest businesses and AI services," as quoted by Investor's Business Daily. Live Events Ghodsi also highlighted that, "We're thrilled this round is already oversubscribed and to partner with strategic, long-term investors who share our vision for the future of AI," as quoted in the report. As per Investor's Business Daily, Databricks said it hit an annualized revenue of $3.7 billion in July, with a growth rate of 50%. The Analytics firm plans to use the new capital to accelerate its artificial intelligence strategy, expanding AI agents, investing in a new database, and potentially acquiring more AI companies, as reported by Investor's Business Daily. ALSO READ: Were YouTube Influencers Nina Santiago and Patrick Blackwood's lives put at risk for views? Watch the shocking SUV crash viral video Snowflake Stock Dips Meanwhile, Snowflake stock is down more than 3% on Tuesday and the company is set to report its second-quarter earnings on August 27, according to the report. Databricks and Snowflake Compete in AI Agents Race Both Databricks and Snowflake focus on helping companies use their proprietary data to deploy autonomous, goal-driven AI agents, a fast-growing trend across industries, as per the Investor's Business Daily report. ALSO READ: Is Oracle facing headwinds? After layoffs, its 4-decade veteran Chief Security Officer Mary Ann Davidson departs FAQs What's driving investor interest in Databricks? The company's strong momentum in AI, growing revenue, and customer base are attracting significant investor attention, as per the Investor's Business Daily report. How is Snowflake performing in 2025? Snowflake stock has gained about 26% this year but fell more than 3% on Tuesday.
Time of India
10 hours ago
- Business
- Time of India
Databricks eyes over $100 billion valuation as investors back AI growth plans
Academy Empower your mind, elevate your skills Analytics firm Databricks said on Tuesday its valuation was set to jump 61% to more than $100 billion in a funding round less than a year after its last, underscoring strong investor demand for artificial intelligence startups The San Francisco, California-based company - with 15,000 customers, including payments firm Block, energy giant Shell and electric-vehicle maker Rivian - said it has signed a term sheet for a Series K round, but did not disclose the amount it was last year, Databricks had raised $10 billion in one of the largest venture capital funding rounds in history, which valued it at $62 company expects to use a portion of the latest funds in product development and for mergers and acquisitions in the AI segment, as corporations and governments worldwide rush to leverage efficiencies from the nascent but rapidly evolving technology."Databricks is benefiting from an unprecedented global demand for AI apps and agents, turning companies' data into goldmines. We're thrilled this round is already over-subscribed," said Ali Ghodsi, cofounder and are choosing to stay private for longer amid higher interest rates and unpredictable market appetite for initial public offerings over the past few years. Capital is also available for larger late-stage rounds as private market investors sit on record levels of dry powder. OpenAI is also in talks to close an employee share sale, which would value the ChatGPT parent at around $500 billion
Hindustan Times
11 hours ago
- Business
- Hindustan Times
Databricks Eyes Over $100 billion Valuation As Investors Back AI Growth Plans
Analytics firm Databricks expects its valuation to jump 61% to more than $100 billion in a funding round less than a year after its last, underscoring strong investor demand for AI startups. Databricks' latest funding round at a valuation of more than $100 billion underscores the strong investor demand for AI startups.(REUTERS) The San Francisco, California-based firm—with 15,000 customers, including payments firm Block, energy giant Shell and electric-vehicle maker Rivian—said it has signed a term sheet for a Series K round, but did not disclose the amount it was raising. Late last year, Databricks had raised $10 billion in one of the largest venture capital funding rounds in history, which valued it at $62 billion. The firm expects to use a portion of the latest funds in product development, and for mergers and acquisitions in the AI segment, as corporations and governments worldwide rush to leverage efficiencies from the nascent but rapidly evolving technology. 'Databricks is benefiting from an unprecedented global demand for AI apps and agents, turning companies' data into goldmines. We're thrilled this round is already over-subscribed,' Cofounder CEO Ali Ghodsi said. Startups are choosing to stay private for longer amid higher interest rates and unpredictable market appetite for initial public offerings over the past few years. Capital is also available for larger late-stage rounds as private market investors sit on record levels of dry powder. OpenAI is also in talks to close an employee share sale, which would value the ChatGPT parent at around $500 billion, Reuters had reported earlier this month.
