AI company Databricks raised $5 billion in its latest funding round, with a latest valuation of $55 billion

ChainCatcher news, according to Bitcoin.com, San Francisco-based data analytics and artificial intelligence (AI) company Databricks has raised $5 billion in its latest funding round, bringing the company's valuation to $55 billion. Sources indicate that Databricks plans to raise a total of $8 billion, which is expected to become the largest funding round of the year. Reports suggest that the latest funding round is aimed at allowing employees to sell shares, thereby reducing the need for an immediate initial public offering (IPO). However, while an IPO may not come soon, it is still possible to occur in the second half of 2025.

Although the report did not disclose the identities of the investors participating in the latest funding round, it revealed the company's notable supporters, including Nvidia, Capital One, Andreessen Horowitz (a16z), Baillie Gifford, Fidelity, Insight Partners, and Tiger Global. In September 2023, Databricks raised $500 million in funding, with a company valuation of $43 billion.

OpenAI currently holds the record for the largest funding round of 2024, raising $6.6 billion in October. Billionaire Musk's xAI also secured $5 billion in funding, bringing the company's valuation to $50 billion. Another AI startup, Anthropic, received $400 million in funding from Amazon, bringing its total funding to $8 billion.