Databricks Hits $10bn Funding: AI Giant Reaches $62bn Valuation!

Databricks raises $10bn in biggest US venture deal of 2024.

Valuation jumps to $62bn for the 11-year-old AI and data analytics company.

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Top investors include Thrive Capital, Andreessen Horowitz, and Insight Partners.

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Thrive Capital alone contributed at least $1bn in the funding round.

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Funds will help employees cash out stock options and cover tax bills.

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Databricks plans to launch new AI products and expand globally.

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International investors include Singapore's GIC and UAE's MGX fund.

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Annual revenue expected to reach $3bn by end of the year.

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Valuation surged from $43bn in September 2023 to $62bn now.

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CEO Ali Ghodsi calls this "early days of AI," signaling major growth ahead.

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