PANews reported on November 28 that according to Bitcoin.com, Databricks, a San Francisco-based data analysis and artificial intelligence (AI) company, raised $5 billion in its latest round of financing, which will bring the company's valuation to $55 billion. Sources said Databricks plans to raise a total of $8 billion, which is expected to be the largest financing round this year. Databricks' latest round of financing is reportedly intended to allow employees to sell shares, thereby reducing the need for an immediate initial public offering (IPO). However, while the IPO may not come soon, it is still possible that it will happen in the second half of 2025.
While the report did not reveal the identities of the investors who participated in the latest round of funding, it revealed the company’s well-known backers, including Nvidia, Capital One, Andreessen Horowitz (a16z), Baillie Gifford, Fidelity, Insight Partners, and Tiger Global. In the September 2023 funding round , Databricks raised $500 million, valuing the company at $43 billion.
OpenAI currently holds the record for the largest funding round in 2024, raising $6.6 billion in October. Billionaire Musk's XAI also received $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.
