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Databricks raised $5 billion in a new funding round at a $190 billion valuation, exceeding its initial $1 billion target due to overwhelming investor interest.
The AI big-data company's CEO Ali Ghodsi told TechCrunch that investors showed $15 billion of interest, prompting the larger raise. The round was led by Coatue, with participation from Blackstone, MGX, T. Rowe Price, and new investor Sixth Street Growth. Ghodsi cited the high costs of AI development, multi-billion dollar cloud commitments, and M&A activities as reasons for seeking capital.
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