Databricks, the Data and AI company, announced the final closing of its Series J funding. Existing investor QIA along with new investors including Temasek and entities administered by Macquarie Capital, participated in the funding round, which values the company at $62 billion. In addition, Meta has joined as a new strategic investor.
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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.
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In addition to raising the $10 billion equity financing from some of the most well-known investors, Databricks closed a $5.25 billion credit facility led by JPMorgan Chase alongside Barclays, Citi, Goldman Sachs, and Morgan Stanley, with participation from other leading financial institutions and alternative asset managers. The credit facility includes a $2.5 billion unfunded revolver and a $2.75 billion term loan.
“We received overwhelming interest in this round from both new and existing investors and strategic partners who believe in our vision and market impact. These partners are focused on the long-term success of Databricks and our rapidly growing customer base,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “Organizations are modernizing their data and AI infrastructure because they recognize the immense potential of generative AI. Data intelligence is critical to both unlocking this potential and to helping enterprises reach their business goals.”
“We are excited to deepen our commitment to Databricks through this follow-on investment, underscoring our strong conviction in the company’s leadership and strategic positioning,” said Mohammed Saif Al-Sowaidi, CEO of QIA. “At QIA, we are expanding our exposure across the AI ecosystem and believe Databricks has become the leading platform within the AI infrastructure software space.”
About Databricks
Databricks is the Data and AI company. More than 10,000 organizations worldwide — including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500 — rely on the Databricks Data Intelligence Platform to take control of their data and put it to work with AI. Databricks is headquartered in San Francisco, with offices around the globe and was founded by the original creators of Lakehouse, Apache Spark™, Delta Lake and MLflow.
