Valuation Soars to $13.4 Billion! AI Data Giant Databricks Completes Latest Financing, Attracting over $4 Billion in Funding

Artificial intelligence (AI) data company Databricks announced on Tuesday that its latest round of financing exceeded $4 billion, with a valuation of $134 billion. This financing news once again confirms that investors are betting heavily on the transformative potential of AI technology. The L-round financing was led by Insight Partners, Fidelity Management & Research Company, and J.P. Morgan Asset Management, with participation from well-known investment institutions such as Andreessen Horowitz, BlackRock, Inc., and Blackstone Inc. Currently, investors are pouring a large amount of capital into any area related to generative AI, expecting the rapid popularity of this technology to improve operational efficiency, stimulate corporate technology spending, and drive long-term growth of data-driven applications. Michael Ashley Schulman, a partner at Running Point Capital Advisors, stated: "Investors see the logic in Databricks' future, as every company will become a data company and will need a unified platform for data cleaning, analysis, and monetization." He further pointed out that despite facing comprehensive competitive pressure, Databricks has "an unparalleled market competitiveness due to its open ecosystem and enterprise-level sales capabilities." The AI data company, headquartered in San Francisco, revealed that its annualized revenue in the third quarter has exceeded $4.8 billion, an increase of over 55% compared to the same period last year. The annualized revenue of its AI products and data warehousing business both exceeded $1 billion, and the company achieved positive free cash flow in the past 12 months. John Wolff, Managing Director of Insight Partners, commented: "Databricks continues to combine strong financial performance with tangible customer results, setting industry benchmarks for how AI technology can empower businesses." Databricks stated that the funds raised in this round will be used primarily for three purposes: accelerating the development of AI applications, supporting future strategic acquisitions, increasing research investment in the AI field, and providing liquidity solutions for employees. According to information on the company's official website, Databricks currently serves over 20,000 customers worldwide, including major enterprises and institutions such as Shell, Adobe, and the NBA.