Databricks is continuously seeking new investment capital to upgrade its enterprise value. For this purpose, talks are now being held with an investment company, reports Bloomberg.
Databricks wants to proceed with a valuation of 38 billion euros ($43 billion) with a new round of investment, Bloomberg sources say. The company is in talks with investment firm T. Rowe Price about this.
The talks are reportedly still in the early stages and could fail. T. Rowe Price’s investment could be substantially higher than Counterpoint Global’s two years ago. With it, Databricks then managed to raise its market value to $38 billion.
An IPO is not on the agenda for now. Databricks, by its own admission, managed to break through the magic barrier of $1 billion in sales early this year.
Previous investment rumours
That Databricks is looking for new capital has been known for some time. Earlier this month, rumours circulated that the company is seeking new capital to invest primarily in expanding the AI functionality of its data engineering platform.
This platform allows companies to process and transform large amounts of data. The platform also offers many security and observability capabilities for AI solutions e.
Very active with AI
Databricks is currently very active in the field of AI. Among other things, with its own generative AI model, Dolly, which should provide an alternative to OpenAI’s GPT models and applications.
Other AI tools introduced this year include LakehouseIQ, a generative AI application development platform, and a Unity catalog as a central place for searching analytical data.
Also read: Microsoft and Databricks to work on AI tools, will OpenAI get sidetracked?
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