Databricks Raises $10 Billion, Valued at $62 Billion

Databricks has secured $10 billion in a Series J funding round, achieving a valuation of $62 billion, making it one of Silicon Valley's most valuable startups. The funding was led by Thrive Capital and included notable investors such as Andreessen Horowitz and DST Global, reflecting strong confidence in the company's growth driven by the rising demand for AI solutions. Databricks plans to use the capital for new AI product development, strategic acquisitions, and expansion of international operations, as well as providing liquidity for current and former employees. The company anticipates reaching a $3 billion revenue run rate by January and achieving positive free cash flow for the first time in its history. CEO Ali Ghodsi has hinted at a future IPO, indicating that the company is well-positioned for public market entry. This funding round alleviates some pressure for a quick liquidity event, allowing Databricks to focus on its long-term vision.