The artificial intelligence company Databricks has completed a $10 billion financing round, reaching a valuation of $62 billion

ChainCatcher news, according to Yahoo Finance, the artificial intelligence company Databricks announced the completion of a funding round, raising $10 billion, bringing its valuation to $62 billion. The company plans to use the funds to hire AI talent, invest in new products, and pursue acquisition opportunities. This oversubscribed round was led by Thrive Capital, with participation from several well-known investment firms including Andreessen Horowitz and DST Global.

Databricks expects to achieve positive free cash flow in the quarter ending January 31 and anticipates revenue of $3.8 billion for the fiscal year 2024.