Databricks Sets $100 Billion Benchmark With Late-Stage Raise As Investors Pile In

San Francisco-based Databricks is set to see its valuation soar by 61% to over $100 billion following a new funding round, highlighting strong investor interest in artificial intelligence startups.

The company has signed a term sheet for a Series K round, though the amount being raised was not disclosed, according to Reuters.

Databricks, which raised $10 billion last year, plans to use the new funds for product development and mergers and acquisitions in the AI sector. This reflects a growing trend where corporations and governments are eager to harness the efficiencies offered by rapidly evolving AI technologies.

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