Databricks announces new round of financing, with a valuation of $18.8 billion.

American data and artificial intelligence company Databricks announced a new round of strategic financing on July 16th local time, with a company valuation of $18.8 billion. Databricks has signed a letter of intent for this round of financing and is expected to complete the transaction by the end of this summer. This round of financing is led by existing investor Coatue, with other new and existing investors participating.