
Databricks, a San Francisco, CA-based data and AI company, received a USD5.25 billion credity facility and closed its Series J funding.
The credit facility, led by JPMorgan Chase alongside Barclays, Citi, Goldman Sachs, and Morgan Stanley, included a $2.5 billion unfunded revolver and a $2.75 billion term loan. It added to the previously announced $10 Billion in equity financing.
Existing investor QIA, the sovereign wealth fund of the State of Qatar, along with new investors including Temasek and entities administered by Macquarie Capital, participated in the funding round, which valued the company at $62 Billion. In addition, Meta has joined as a new strategic investor.
Databricks plans to invest this capital toward new AI products, acquisitions, and expansion of its international go-to-market operations. This capital is also expected to be used toward providing liquidity for current and former employees and paying related taxes.
Led by CEO Ali Ghodsi, Databricks provides data intelligence solutions which are used by more than 10,000 organizations worldwide, including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500 to take control of their data and allow them to work with AI.
The Databricks Data Intelligence Platform makes it easier for organizations to leverage data for analytics, machine learning, and AI applications. Built on an open source foundation, the platform enables organizations to drive innovation to increase revenue, lower costs, and reduce risk. Customers use the Data Intelligence Platform to find and treat diseases and cancer earlier, identify new ways to combat climate change, detect financial fraud, develop pharmaceuticals faster, reduce time to mental health intervention, decrease local financial inequality and more.
FinSMEs
22/01/2025