Databricks Secures $10B Funding To Boost Liquidity, Drive AI Expansion, And Pursue Acquisitions

Benzinga

Databricks secured $10 billion in financing, raising its valuation to $62 billion, up from $43 billion in 2023. The software company plans to use the funds for employee liquidity, acquisitions, and overseas expansion. Databricks sells AI and data analytics tools across Amazon, Google, and Microsoft clouds. It expects positive free cash flow for the first time, with a $3 billion revenue run rate in the current quarter. Its revenue grew over 60% year-over-year in October.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Databricks secured $10 billion in financing, raising its valuation to $62 billion, up from

00:08$43 billion in 2023. The software company plans to use the funds for employee liquidity,

00:14acquisitions, and overseas expansion. Databricks sells AI and data analytics tools across Amazon,

00:21Google, and Microsoft Clouds. It expects positive free cash flow for the first time,

00:26with a $3 billion revenue run rate in the current quarter.

00:30Its revenue grew over 60% year-over-year in October.

00:33For all things money, visit Benzinga.com slash GSTV.

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