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Databricks celebrates $1 billion in revenue by acquiring Rubicon

Databricks celebrates $1 billion in revenue by acquiring Rubicon

Databricks is celebrating twice. The company has reached the one billion dollar revenue milestone and is acquiring AI start-up Rubicon.

Databricks announces an excellent financial year. Sales reportedly increased by more than 60 percent and $1 billion in revenue was achieved.

Ali Ghodsi, president of Databricks, told Bloomberg why he thinks its company is so popular. He says it helps organizations significantly reduce their cloud computing costs.

Discovering new domains

There are no immediate plans to take the company public. Although the executive certainly does not rule it out. Currently, the company still wants to expand and it is doing so to the field of AI by acquiring Rubicon.

Rubicon is a start-up dedicated to developing next-generation AI storage infrastructure. The solution will integrate into the Databricks Lakehouse Platform. What amount Databricks put down to incorporate the start-up into its organization is unknown.

The company makes clear its ambitions to assert itself in the AI era. In April, it was already competing with GPT-4 by introducing Dolly 2.0. In addition, earlier this year it also acquired data governance platform Okera, a company whose solutions also focused on AI.