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Databricks wanted to raise $1B, investors wanted $15B. It settled on $5B at a $190B valuation.

AI is expensive, Ali Ghodsi tells TechCrunch. With so many investors wanting into his latest round, he said yes to more than planned.

Databricks wanted to raise $1B, investors wanted $15B. It settled on $5B at a $190B valuation.

TL;DR

  • Databricks initially planned to raise $1 billion but received $15 billion in investor interest.
  • The company ultimately raised $5 billion at a $190 billion valuation.
  • CEO Ali Ghodsi cited the high costs of AI research and cloud commitments as reasons for the larger raise.
  • Databricks has also been active in mergers and acquisitions, acquiring several companies recently.
  • The company reported a $7 billion annualized run rate revenue, with strong growth in its core data warehouse product and new AI offerings.

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